Long leasehold shop investment producing £9,000 pa

This virtual freehold lock up shop investment is currently tenanted to a beautician business and provides an annual income of £9,000. The premises is let on a five year lease which commenced 31.01.23 and extends to 456 square feet including a cloakroom and good frontage onto a busy road to the north of Norwich centre. The shop is located in a newly refurbished parade of shops surrounded by high density residential dwellings and local businesses.

Tenure

Leasehold. 999 years. Annual ground rent £150 pa. Review in 50 years from grant of lease.

Accommodation

Main shop area, staff cloakroom

Tenancy details

The current lease is for 5 years from 31st January 2023 there is a 3 year break clause.

Lease Details

Term: 999 years Annual ground rent amount: £150 pa Ground rent review period: Every 50 years Annual service charge amount: None Service charge review period: N/A

Energy Efficiency Rating (EPC)

Current Rating B

Services

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

Local Authority

Norwich City Council

Solicitors

Ward Gethin Archer (Dereham), Ref: Tracy Guest, Tel: 01362 852918

Additional Fees

Buyer's Premium - £420 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.