City centre shop currently let producing £10,000 pa

This city centre virtual freehold lockup shop incorporates a ground floor retail area, kitchenette and wc whilst on a lower level there is a further treatment room/office. Currently the premises are occupied by a long established beauticians on a 12 year lease from August 2019 with a passing rent of £10,000 per annum. The current occupier has been in situ since 2007. Upper St Giles is located within walking distance of the market place and city centre with a wide range of independent retailers, coffee shops and offices in the immediate vicinity. There is a significant passing footfall.

Tenure

Leasehold. 199 years from 14th March 2013

Ground Floor Shop

Comprising of reception area, rear salon, wc and storage area.

Basement

Treatment room

Lease Details

199 years from 14th March 2013 (187 years remaining) Annual ground rent: please refer to legal pack Annual service charge: please refer to legal pack

Business Rates

1 April 2023 to present £9,100

Energy Efficiency Rating (EPC)

Current Rating D

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

Howes Percival (Norwich), Ref: Aimee Magee, Tel: 01603 281972

Additional Fees

Buyer's Premium - £600 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.