Retail Property (high street) for sale

Regent Road, Great Yarmouth

£295,000

Property Description

Full description

Tenure: Freehold

LOCATION
Regent Road is The main retailing center for Great Yarmouth´s thriving tourist industry. This fully pedestrainised road provides a link from the town center to the ´Golden Mile´. It is used by literally thousands of people every single day. Numerous shops and restaurants are positioned here.

DESCRIPTION
The property comprises a semi-detached building of traditional construction arranged over four floors.

The ground floor provides two shop units 105c Regent Road and 105d Regent Road. Both benefit from a separate glazed frontage and entrance direct from Regent Road. Both share toilet and loading facilities to the rear. Both shop units are secure and have the benefit of a self-dial intruder alarm, which can be set individually for each unit. 105d benefits from a basement which is used for storage.

ACCOMMODATION
The shops provide the following floor areas:

105C = 62.42 sq m (672 sq ft)
105D = 48.07 sq m (517 sq ft)

The upper floors are accessed via an open staircase to the rear of the property from Albion Road. The first floor flat (105a) with a bedroom, lounge with double aspect windows, kitchen and bathroom/WC (no shower). The second floor flat (105b) comprises a double bedroom with built in wardrobes, lounge with double aspect windows, kitchen and bathroom with shower/WC. Each benefit from their own gas fired central heating, hot water and double glazing.

TERMS
TENURE
We are informed that the property has the following tenancies:

Flat 105(a) is let at £395pcm.

Flat 105(b) is under offer at a rent of £420pcm.

105(c) is on a lease running for 10 years 3 months expiring 31st January 2025. With a 5 year break clause. The current passing rent is £9,000 p.a. rising to £9,500 in years 6/7/8 and then £9,750 in years 9 and 10.

105(d) is on a 10 year lease expiring 31st Jan 2025. With a 5 year break clause. The current passing rent is £9,000 p.a. rising to £9,500 p.a. in years 6/7/8 and £9,750 in years 9 and 10.

The total potential annual income here is therefore £27,780 p.a. rising to £28,780 p.a. in 2020

GUIDE PRICE
The property is a good investment opportunity. The freehold with the benefit of the existing tenancies is available at a guide price of £295,000 showing a penitential gross yield of 9.4%.

OUTGOINGS
Rateable Value- 105 Regent Road - £9,100 pa. 105c Regent Road - £9,400 pa

VIEWING
Strictly by appointment with the selling agents BYCROFT COMMERCIAL. Tel. 01493 844489


Nearest stations

  • Great Yarmouth (0.5 mi)
  • Berney Arms (4.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bycroft, Commercial- Great Yarmouth

14 Regent Street, Great Yarmouth, NR30 1RN

01493 844489 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

  • Great Yarmouth (0.5 mi)
  • Berney Arms (4.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bycroft, Commercial- Great Yarmouth

14 Regent Street, Great Yarmouth, NR30 1RN

01493 844489 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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