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 18th May 2022
Rent £49,000 per Annum
Status Sold
Price £750,000
Sector High Street Retail
Auction Venue Live Streamed Auction
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.
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