Commercial Development for sale

24, 24d, Flat 1 & Flat 2 Magdalen Street, Norwich, Norfolk, NR3 1HU

Under Offer £340,000
304 sq. m.

Property Description

Commercial information

  • 3,280 sq ft (304 sq m)

Key features

  • Rare freehold opportunity
  • Scope for rental growth
  • Let the three tenants and producing 15,000 per annum exclusive
  • Lease terms Unit 24a is a ground floor lock up shop which let to Mr Harber for 6 years of which he is holding over from August 1988 for a rent of 3,500 per annum on tenant's Full Repairing and Ins

Full description

Mixed Freehold Investment

DESCRIPTION


The property comprises a three storey Grade II listed late Georgian/ early Victorian building with two ground floor shops and flats on the first and second floor which are currently occupied as one.

The property is prominently positioned at the Norwich City end of Magdalen Street, close to Colegate Street. The property is a short walk away from Norwich City centre and the historic Tombland area of Norwich home to the Cathedral.

The freehold is available to purchase and has an asking price of £340,000.

LOCATION


The property is prominently positioned at the Norwich City end of Magdalen Street, close to Colgate Street. The property is a short walk away from Norwich City centre and the historic Tombland area of Norwich home to the Cathedral.

Rare freehold opportunity

Scope for rental growth

Let the three tenants and producing £15,000 per annum exclusive



Terms


Lease terms

Unit 24a is a ground floor lock up shop which let to Mr Harber for 6 years of which he is holding over from August 1988 for a rent of £3,500 per annum on tenant's Full Repairing and Insuring terms.

Unit 24d is a ground floor lock up shop which is let to Mr Atiqual Islam for 3 years of which he is also holding over from November 2004 for a rent of £5,000 per annum on tenant's Full Repairing and Insuring terms.

Flat 1 and Flat 2 are occupied as one flat by Paul Foreman from June 1979 under a Rent Act tenancy described on the register as a maisonette over commercial, without central heating. There is access from the ground floor leading to 3 rooms, 1 kitchen, 1 bathroom and 1 WC on the first floor and 3 rooms and 1 bathroom/ WC on the second floor. There is one parking space at the rear of the property. The rent is listed as £1,625 per quarter.

The freehold is available to purchase and has an initial asking price of £340,000.


More information from this agent

Nearest stations

  • Norwich (0.7 mi)
  • Salhouse (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Brown & Co, Norwich

The Atrium St. Georges Street, Norwich, NR3 1AB

01603 950022 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Norwich (0.7 mi)
  • Salhouse (4.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Brown & Co, Norwich

The Atrium St. Georges Street, Norwich, NR3 1AB

01603 950022 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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