Winsor Bishop 39 London Street Norwich NR2 1HU

Winsor Bishop
39 London Street
Norwich
NR2 1HU

  • Winsor Bishop<br>39 London Street<br>Norwich<br>NR2 1HU

Freehold Retail Investment

  • Entirely let to Winsor Bishop Limited
  • Recently renewed lease on a rebased rent
  • Grade II Listed attractive period building
  • The tenant has traded from London Street since 1834
  • Central location within Norwich's historic core, very close to Norwich Castle
  • Nearby occupiers include Toni & Guy, Costa, Greggs, Timpson and Boots
  • Lot
    14
  • Auction
    18/May/2022
  • Rent
    £49,000 per Annum
  • Status
    Available
  • Price*
    £675,000
  • 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 the only Cathedral City in Norfolk and acts as its County Town, with a population of 141,300. Norwich is located 45 miles north of Ipswich, 61 miles north-east of Cambridge, 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 north side of the pedestrianised London Street between Swan Lane and Bedford Street within the Norwich City Centre Conservation Area. Nearby occupiers include Toni & Guy, Costa, Greggs, Timpson and Boots.

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 the only Cathedral City in Norfolk and acts as its County Town, with a population of 141,300. Norwich is located 45 miles north of Ipswich, 61 miles north-east of Cambridge, 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 north side of the pedestrianised London Street between Swan Lane and Bedford Street within the Norwich City Centre Conservation Area. Nearby occupiers include Toni & Guy, Costa, Greggs, Timpson and Boots.

Tenure

Freehold.

Description

The property comprises an attractive Grade II Listed building providing ground floor retail premises with showroom at first floor level and ancillary accommodation on the second floor. Additionally there is a basement level providing ancillary/ storage accommodation.

No 39 has historically been used in conjunction with the adjoining unit No. 41-43 London Street (which does not form part of this sale) and some of the party wall has been partially removed. Further details are available within the legal pack.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion Available.

EPC

A copy of the EPC is available within the legal pack.

Description

The property comprises an attractive Grade II Listed building providing ground floor retail premises with showroom at first floor level and ancillary accommodation on the second floor. Additionally there is a basement level providing ancillary/ storage accommodation.

No 39 has historically been used in conjunction with the adjoining unit No. 41-43 London Street (which does not form part of this sale) and some of the party wall has been partially removed. Further details are available within the legal pack.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion Available.

EPC

A copy of the EPC is available within the legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
Ground
Basement
First
Second
Retail
Ancillary
Showroom
Ancillary
86.20
71.72
71.12
49.90
928
772
765
537
Winsor Bishop Limited (1) 10 years from 07/11/2020 until 06/11/2030 (2) (3)
£49,000 (4)
07/11/2025
Totals  
278.94
(3,002)
   
£49,000
 

(1) https://www.winsorbishop.co.uk/ For the year ending 31st March 2020, Winsor Bishop Limited reported a turnover of £10,530,000, pre-tax profits of £1,340,000 and a total net worth of £4,180,000. (Source: NorthRow Company Report 26/04/2022)
(2) 10 year renewal lease from 7th November 2020.
(3) 2025 break clause recently removed by way of Deed of Variation.
(4) Rent rebased from historic levels.

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

  • Solicitors Legal Pack
    Updated Date
    11.05.22
    File Size
    91 MB
    Login to View
  • 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
Charlie PowterCharlie Powter +44 (0)20 7034 4853 +44 (0)7768 120 904charlie.powter@acuitus.co.uk
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Seller's Solicitors
DWF LLP 2nd Floor Central Square
South Orchard Street
Newcastle
NE1 3AZ
Ryan Bigland 0333 320 2220Ryan.Bigland@dwf.law

Useful Links

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

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