Prince Of Wales Road, Norwich

Guide Price: £450,000 to £500,000. Introducing to the market this incredible investment opportunity down Prince Of Wales road within the vibrant city centre. Ideal for a young couple who are looking to own a freehold property, alongside a good business opportunity. The ground floor is home to a thriving sports bar, making it a lucrative prospect for those seeking a venture within the hospitality industry. While the upper floors are residential accommodation, with spacious and versatile living spaces. Whether you are an investor seeking a profitable venture or an entrepreneur with a vision for a thriving business, this property offers endless possibilities for growth and success in city centre location.

Location

Prince of Wales Road is a vibrant street located in the heart of Norwich, Norfolk, England. It is well-known for its lively atmosphere, especially in the evening, as it is home to numerous bars, clubs, and restaurants, making it a popular destination for both locals and visitors. The road connects to some of Norwich's other major streets and is situated close to the city center, making it easily accessible. It runs parallel to the River Wensum and is near notable landmarks such as Norwich Railway Station and the historic Norwich Market. Over the years, Prince of Wales Road has evolved from a primarily residential area to a bustling entertainment hub, attracting a diverse crowd. The street is named after the title traditionally given to the heir apparent to the British throne, Prince of Wales.

Medina Bar

Spread across multiple levels, the property is brimming with potential. The ground floor is currently home to a thriving sports bar with ample seating space, a fully equipped bar area, and essential amenities such as toilets and storage rooms. The cellar, though currently underutilised, holds promise for expansion or customisation to suit a variety of business needs. Additionally, an outdoor seating area provides an inviting space for patrons to enjoy the outdoors. The kitchen is currently utilised for storage, holds promise for those looking to diversify the property's offerings by introducing a food service component.

Ascending to the upper floors, you will find the living accommodation, thoughtfully designed to offer comfort and convenience. With bedrooms, bathrooms, reception rooms and a kitchen, offering spacious and versatile accommodation. Further enhancing the property's appeal is its off-road parking at the rear, a valuable commodity in a bustling city centre.

Location is key, and this property does not disappoint. Situated within close proximity to the train station, bus services, shops, restaurants, and independent businesses, it enjoys high visibility and foot traffic, guaranteeing a steady stream of potential customers. This strategic positioning ensures that the property remains at the epicentre of the city's social and commercial activities, cementing its status as a desirable investment opportunity.

Agents notes

We understand that this property is freehold.

Connected to mains water, electricity, gas and drainage.

Heating system - Gas central heating.

Commercial monthly income - approx £6000. Yield 14.5% please note that the bar is currently only open 3 days a week.

Residential monthly income - approx £2000. Yield 4.8%.

Council Tax Band: B

Disclaimer

Minors and Brady, along with their representatives, are not authorized to provide assurances about the property, whether on their own behalf or on behalf of their client. We do not take responsibility for any statements made in these particulars, which do not constitute part of any offer or contract. It is recommended to verify leasehold charges provided by the seller through legal representation. All mentioned areas, measurements, and distances are approximate, and the information provided, including text, photographs, and plans, serves as guidance and may not cover all aspects comprehensively. It should not be assumed that the property has all necessary planning, building regulations, or other consents. Services, equipment, and facilities have not been tested by Minors and Brady, and prospective purchasers are advised to verify the information to their satisfaction through inspection or other means.