9 White Lion Street Norwich Norfolk NR2 1QA

9 White Lion Street
Norwich
Norfolk
NR2 1QA

  • 9 White Lion Street<br>Norwich<br>Norfolk<br>NR2 1QA

High Yielding Freehold Retail Investment

  • Let to Specsavers Optical Superstores Limited
  • Excellent trading location between Castle Mall Shopping Centre & Haymarket/Gentleman's Walk, and close to Royal Arcade
  • 10 year lease from September 2019 (subject to option)
  • Rent re-based in 2019
  • Comprises 462.50 sq m (4,979 sq ft), including testing rooms on upper floors
  • Nearby retailers include Primark, Flying Tiger, Boots the Chemist, TK Maxx, Bill's, Holland & Barrett, FatFace and WH Smith
  • Lot
    8
  • Auction
    13/Dec/2021
  • Rent
    £126,250 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,305,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • on behalf of a Real Estate Investment Trust
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
45 miles north of Ipswich
61 miles north-east of Cambridge
Roads
A11, A47, A140, A146
Rail
Norwich
Air
Norwich Airport
Situation

Norwich is a Cathedral City in the county town of Norfolk, with a population of 141,300. Norwich is located 45 miles north of Ipswich, 61 miles north-east of Cambridge and 73 miles east of Peterborough and benefits from regular rail services to London Liverpool Street (1 hour 50 minutes). The property is located on the south side of the pedestrianised White Lion Street, between Haymarket, Gentleman's Walk & Castle Mall Shopping Centre with retailers nearby including Primark, Flying Tiger, Boots the Chemist, TK Maxx, Bill's, Holland & Barrett, FatFace and WH Smith.

Tenure

Freehold.

Location
Miles
45 miles north of Ipswich
61 miles north-east of Cambridge
Roads
A11, A47, A140, A146
Rail
Norwich
Air
Norwich Airport
Situation

Norwich is a Cathedral City in the county town of Norfolk, with a population of 141,300. Norwich is located 45 miles north of Ipswich, 61 miles north-east of Cambridge and 73 miles east of Peterborough and benefits from regular rail services to London Liverpool Street (1 hour 50 minutes). The property is located on the south side of the pedestrianised White Lion Street, between Haymarket, Gentleman's Walk & Castle Mall Shopping Centre with retailers nearby including Primark, Flying Tiger, Boots the Chemist, TK Maxx, Bill's, Holland & Barrett, FatFace and WH Smith.

Tenure

Freehold.

Description

The property comprises a large, triple fronted ground floor shop with further retail/ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Description

The property comprises a large, triple fronted ground floor shop with further retail/ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)
Tenant Term Rent p.a.x Review
Ground
First
Second
Retail/Ancillary
Retail/Ancillary
Retail/Ancillary
216.20 sq m
186.90 sq m
59.60 sq m
(2,327 sq ft)
(2,011 sq ft)
(641 sq ft)
SPECSAVERS
OPTICAL
SUPERSTORES
LIMITED (1)
10 years from
01/10/2019 until
30/09/2029 (2) on a
full repairing and
insuring lease
£126,250 01/10/2024
Total
462.50 sq m
(4,979 sq ft)
    £126,250  

(1) For the year ending 29/02/2020, Specsavers Optical Superstores Limited reported a turnover of £696,410,000, pre-tax profits of £20,929,000 and total shareholder's equity of £86,047,000 (NorthRow 22/10/2021).
(2) The lease is subject to a tenant option to determine on 01/10/2024.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    23.11.21
    File Size
    672 KB
    View PDF
  • Site Plan
    Updated Date
    23.11.21
    File Size
    843 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Seller's Solicitors
Gateley Legal Park View House, 58 The Ropewalk
Nottingham
NG1 5DW
Charlotte Chapman 0115 983 8244charlotte.chapman@gateleylegal.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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