Nearby occupiers include Co-operative Food, M&Co, Lloyds Pharmacy, Superdrug and Boots
Lot 67
Auction 5th December 2018
Rent £9,000 per Annum
Status Sold
Price £217,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Mapeley
Property Information
Location
Miles
23 miles north of Norwich, 30 miles north-west of Great Yarmouth, 85 miles north-east of Cambridge
Roads
A148, A149, A140
Rail
Cromer Railway Station
Air
Norwich International Airport
Situation
Cromer is a historic fishing town on the north coast of Norfolk, some 23 miles north of the county town of Norwich, 30 miles north-west of Great Yarmouth and 85 miles northeast of Cambridge. The property is located in the town centre on the west side of High Street and occupies a prominent corner position adjoining Church Street. Occupiers nearby include Co-operative Food, M&Co, Lloyds Pharmacy, Superdrug and Boots.
Tenure
Freehold.
Location
Miles
23 miles north of Norwich, 30 miles north-west of Great Yarmouth, 85 miles north-east of Cambridge
Roads
A148, A149, A140
Rail
Cromer Railway Station
Air
Norwich International Airport
Situation
Cromer is a historic fishing town on the north coast of Norfolk, some 23 miles north of the county town of Norwich, 30 miles north-west of Great Yarmouth and 85 miles northeast of Cambridge. The property is located in the town centre on the west side of High Street and occupies a prominent corner position adjoining Church Street. Occupiers nearby include Co-operative Food, M&Co, Lloyds Pharmacy, Superdrug and Boots.
Tenure
Freehold.
Description
The property is a four storey building comprising two ground floor retail units with first, second and third floor ancillary space above.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is a four storey building comprising two ground floor retail units with first, second and third floor ancillary space above.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Unit 46
Ground First Second
Retail/Ancillary Retail/Ancillary Ancillary
23.29 sq m 50.09 sq m 52.70 sq m
(250 sq ft) (539 sq ft) (567 sq ft)
INDIVIDUALS t/a Upstairs Downstairs (1)
5 years from 14/10/2013
£9,000
Holding over
Unit 46a
Ground First
Retail/Ancillary Ancillary
46.20 sq m 9.00 sq m
(497 sq ft) (96 sq ft)
VACANT (1)
–
–
–
Total
181.28 sq m
(1,949 sq ft)
£9,000 (1) rising to £25,000
(1) Terms for a new 5 year lease of both units 46 and 46a at £12,500 per annum, rising to £25,000 per annum in year two, with an option to determine in the third year, have been agreed and are currently in solicitors hands, due to complete imminently.