12/12a White Lion Street Norwich Norfolk NR2 1QA

12/12a White Lion Street
Norwich
Norfolk
NR2 1QA

  • 12/12a White Lion Street<br>Norwich<br>Norfolk<br>NR2 1QA

Freehold Retail Investment

  • Entirely let to Ladbrokes Betting & Gaming Limited (a part of Entain Plc) until 2027 (no breaks)
  • Recently extended lease
  • Re-based rent
  • Excellent trading location between Castle Quarter & Haymarket/Gentleman's Walk, and close to Royal Arcade
  • Potential for change of use/residential development of first floor (subject to lease & consents)
  • Nearby occupiers including Specsavers, Greggs, WH Smith, Primark, Holland & Barrett, FatFace and Starbucks
  • Lot
    7
  • Auction
    18/May/2022
  • Rent
    £46,500 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 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 Quarter with nearby occupiers including Specsavers, Greggs, WH Smith, Primark, Holland & Barrett, FatFace and Starbucks.

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 Quarter with nearby occupiers including Specsavers, Greggs, WH Smith, Primark, Holland & Barrett, FatFace and Starbucks.

Tenure

Freehold.

Description

The property comprises a betting shop arranged on the basement, ground and first floors.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

Band E

Description

The property comprises a betting shop arranged on the basement, ground and first floors.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

Band E

Tenancy & Accommodation

Floor Use Floor Areas Approx sq m Floor Areas Approx sq ft Tenant Term Rent p.a.x.
Ground
Basement
First
Retail/Ancillary
Ancillary
Offices/Ancillary
74.79 sq m
35.67 sq m
64.57 sq m
(805 sq ft)
(384 sq ft)
(695 sq ft)
LADBROKES BETTING & GAMING LIMITED (1)
(t/a Ladbrokes)
18 years from 09/06/2009 to 08/06/2027 (2) on a full repairing and insuring lease.
£46,500
Total  
175.03 sq m
(1,884 sq ft)
   
£46,500

(1) Ladbrokes Betting & Gaming Limited employs 15,000 people in six countries and is one of the world’s leading betting and gaming enterprises. Ladbrokes is a market leader in retail bookmaking in the UK, Ireland, Belgium and Spain where it operates a combined total of more than 2,700 betting shops. Ladbrokes is a part of Entain plc (LSE: ENT) - one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector and a FTSE 100 company. The Group employs a workforce of more than 25,000, in 20 offices across five continents.
(2) The property was originally let for a term of 15 years from 9th June 2009 at a rent of £58,000 pa. The term was recently extended for another three years, hence the expiry of the term is now on 8th June 2027. A tenant option to break in June 2019 was removed at the time in return for a 6 month rent free period.

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.

Property Documents

  • Brochure
    Updated Date
    03.05.22
    File Size
    3 MB
    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
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Freedman + Hilmi LLP 101 Wigmore Street
London
W1U 1QU
Nadeem Ahmed 020 7659 0342nahmed@freedmanhilmi.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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