179, 180, 181 King Street
Great Yarmouth
Norfolk
NR30 1LS

Freehold Retail Investment and Part Vacant with Development Potential (subject to consents)

  • Prominent town centre location
  • Tenants include HSBC and River Island
  • Comprises 2,543 sq m (27,367 sq ft)
  • Nearby occupiers include Greggs (adjacent), WHSmith, Nationwide and Lloyds
  • Lot
    42
  • Auction
    11/Dec/2019
  • Rent
    £122,300 per Annum Exclusive
  • Status
    Available
  • Price*
    £750,000
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of a Major Fund Manager
  • 179, 180, 181 King Street<br>Great Yarmouth<br>Norfolk<br>NR30 1LS
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* More information on the term "price" can be found here

Property Information

Location
Miles
19 miles east of Norwich
54 miles north of Ipswich
74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth
Air
Norwich International Airport
Situation

The property occupies a prominent position on the western side of the pedestrianised King Street, at its junction with Regent Street. Market Place is diagonally opposite, which is a historic and bustling market place that hosts its famous markets twice a week. The property is between Market Gates Shopping Centre and Victoria Arcade opposite, with a number of the town's car parks close by. Nearby occupiers include Greggs (adjacent), WH Smith, Nationwide, Lloyds, Barclays, Halifax, Betfred and Palmers department store.

Tenure

Freehold.

Description

The property comprises 3 ground floor shops with ancillary accommodation on the first and second floors. There is an electrical substation on site.

VAT

VAT is applicable to this lot.

Planning

The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Great Yarmouth Borough Council. www.great-yarmouth.gov.uk

Completion Period

Six Week Completion

EPC

See legal pack at acuitus.co.uk

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.x. Reversion
Unit 1, 181
High Street
Ground
Basement
First
Second
Retail
Ancillary
Ancillary
Ancillary
191 sq m
197 sq m
156 sq m
136 sq m
(2,055 sq ft)
(2,120 sq ft)
(1,679 sq ft)
(1,463 sq ft)
HSBC BANK PLC (1)10 years from 25/03/2012£82,00024/03/2022
Unit 2, 180
King Street
Ground
Basement
First
Second
Retail
Ancillary
Ancillary
Ancillary
243 sq m
265 sq m
131 sq m
255 sq m
(2,615 sq ft)
(2,852 sq ft)
(1,410 sq ft)
(2,744 sq ft)
VACANT   
Unit 3, 179
King Street
Ground
Basement
First
Second
Retail
Ancillary
Ancillary
Ancillary
262 sq m
233 sq m
243 sq m
231 sq m
(2,820 sq ft)
(2,508 sq ft)
(2,615 sq ft)
(2,486 sq ft)
RIVER ISLAND
CLOTHING CO.
LIMITED (2)
5 years from 1/09/2017£40,00031/08/2022
Service Yard  
GREGGS PLCLicence£300 
Total  
2,543 sq m
(27,367 sq ft)
  £122,300 

(1) HSBC is one of the world's largest banking and financial services organisations, serving more than 40 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Their network covers 65 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America (Source : www.hsbc.co.uk).
(2) With over 60 years of fashion retailing experience, River Island is one of the most well-known and loved brands........with over 350 stores across the UK, Ireland and internationally throughout Asia, the Middle East and Europe.......... (Source : www.riverisland.com).

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    05.12.19
    File Size
    59 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    906 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays
Sheffield
S2 5SY
Peter Bentley 0114279 4000Peter.Bentley@cms-cmno.com

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