Mixed use investment comprising a vacant retail unit and two let flats producing £13,800 pa

This building has accommodation over three floors. On the ground floor is a large 1,644 sq/ft retail unit with electric shutter door. It was previously let to Ladbrokes, is now in need of improvement, and according to the valuation office website has an area of 157.84 sq/m and a rateable value of £10,000 with effect from 1st April 2023. On the first and second floors are two self contained two bedroom flats accessed from the white door to the left of the shop. Both are let producing £13,800 pa. The property is not listed and lies within a conservation area.

Tenure

Freehold

Ground floor retail unit

Internal width: 20 ft Shop depth: 55 ft Sales area: 1,042 sq/ft Staff/kitchen/office 240 sq/ft Rear stores: 362 sq/ft Wc facilities Total: 152.7 sq/m (1,644 sq/ft) Outside: rear enclosed yard with brick outbuilding

Flat 1 (624 sq/ft)

Two bedroom first floor flat Hallway, bathroom, kitchen, lounge, two bedrooms Let on a six month Assured Shorthold Tenancy dated 15th June 2000 producing £550 pcm (£6,600 pa).

Flat 2 (700 sq/ft)

Two bedroom second floor flat Hallway, bathroom, kitchen, lounge, two bedrooms Let on a twelve month Assured Shorthold Tenancy dated 30th June 2021 producing £600 pcm (£7,200 pa)

Location

The property is well located to the north west side of the pedestrianised Market Place which is the prime retailing district in the town. The Market Place operates on a six day basis and there is a car park opposite.

Council Tax Band Flats:

A

Viewings

Open viewings have been arranged in conjunction with the tenantds in the flats. These are on Thursday 9 and Tuesday 14 March. APPOINTMENT ESSENTIAL. Please call the Norwich office to book an appointment.

Energy Efficiency Rating (EPC)

Current Rating Shop: D Flat 1: D Flat 2: D

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Great Yarmouth Borough Council

Solicitors

RM Legal, Avenue House 36-38, Ref: RM Legal, Tel: 023 8092 6060

Offered in association with

Bycroft Commercial

Additional Fees

Buyer's Premium - £900 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.