COMMERCIALSOLD STC
Keystone Innovation Centre, Croxton Road, Thetford, Norfolk, IP24 1JD
POA
- PROPERTY TYPE
Serviced Office
- SIZE
16,292 sq ft
1,514 sq m
Key features
- Purpose built office building
- Passing rent - c. £175,000 per annum (inc. service charge contributions)
- ERV - c. £375,000 per annum (inc. service charge contributions)
- Four storey building
- Constructed in 2006
- Approximately 1.4 acre site
- Ground floor reception, meeting rooms and café
- Flexible office space situated on upper floors
- Potential for redevelopment (STP)
- Easy access to local road and rail network
Description
Overview
The Keystone Innovation Centre is a modern, purpose-built office building constructed in 2006 providing flexible office space, meeting rooms and cafe space.
Spread across four floors the property is currently being run as a business centre for multiple independent commercial tenants with a staffed reception. The ground floor comprises an entrance reception, meeting/training rooms, offices, restrooms and a café space. The first, second and third floors are accessible both by lift and by stairwell and comprise flexible office space and restrooms. Externally in the approximately 1.4 acre site there is garden space and a 64 space car park.
The property is occupied by 14 tenants and 9 virtual tenants. There is scope to significantly increase the income for the building as it is approximately 55% vacant.
The property is currently trading as a serviced office operator model with associated costs. Any prospective purchasers must make their own investigations.
Location
The property is located in the market town of Thetford, Norfolk, an established commercial and industrial hub with excellent transport links. Thetford is situated in between Cambridge and Norwich with over 250,000 people within a 30 minute drive.
Situated just off the A11, Thetford offers direct access to Norwich (approximately 30 miles northeast) and Cambridge (around 35 miles southwest), making it an attractive location for businesses seeking regional connectivity.
The Keystone Innovation Centre is prominently situated at the junction of Mundford Road (A1066) and Croxton Road, approximately half a mile northeast of Thetford town centre and one mile south of the A1066/A11 junction. The building is conveniently located within walking distance to Thetford train station providing regular trains toward Cambridge and Norwich.
Floor areas
Ground floor: 380.20sqm (4,092sqft)
First floor: 387.87sqm (4,174sqft)
Second floor: 387.87sqm (4,174sqft)
Third floor: 357.67sqm (3,850sqft)
TOTAL: 1,513.61 (16,292sqft)
Net Internal Floor Area
Buyer Pack
The Buyer Pack includes:
* Tenancy schedule
* Supplier schedule
* Business rates schedule
* Invoices received in 2024
* EPC
* Old lease and licence agreements
* Floor plans
It should be noted, this is information we have obtained during the administration process. This may be incomplete and buyers must undertake their own investigations.
Planning
We understand the property has planning consent as use as: four storey innovation centre accommodating business start up units, cafe, KDT offices & ancillary facilities. Purchasers to make their own investigations.
Tenancies
The property is occupied by a wide variety of businesses. There are 14 tenants and 9 virtual tenants. These were a combination of licence agreements and commercial leases across all tenancies. There were 'determined' as part of the administration and new agreements will need to be created. The property is approximately 55% vacant and there is significant opportunity to increase the rent roll.
The passing rent for the building is c. £175,000 per annum, which includes service charge contributions, excluding income received from the training rooms.
Based on the application of the average achieved rent (£ per square foot), the ERV for the building is c. £375,000 per annum, including service charge contributions. Interested parties must make their own investigations.
Interested parties must make their own investigations.
Service Charge
A service charge is paid by the tenants who were occupying by way of commercial leases only. Details can be found in the Buyer Pack and new agreements will need creating following purchase of the building. Purchasers to make their own investigations.
Services
We understand the property has mains gas, electricity, water and drainage. Interested parties should make their own investigations.
EPC
Available upon request.
Tenure
Freehold
Guide price
Offers Invited
VAT
We understand VAT is applicable to the purchase price. Purchasers to make their own investigations.
Legal Costs
Each party to bear their own legal costs and professional fees.
The Keystone Innovation Centre is a modern, purpose-built office building constructed in 2006 providing flexible office space, meeting rooms and cafe space.
Spread across four floors the property is currently being run as a business centre for multiple independent commercial tenants with a staffed reception. The ground floor comprises an entrance reception, meeting/training rooms, offices, restrooms and a café space. The first, second and third floors are accessible both by lift and by stairwell and comprise flexible office space and restrooms. Externally in the approximately 1.4 acre site there is garden space and a 64 space car park.
The property is occupied by 14 tenants and 9 virtual tenants. There is scope to significantly increase the income for the building as it is approximately 55% vacant.
The property is currently trading as a serviced office operator model with associated costs. Any prospective purchasers must make their own investigations.
Location
The property is located in the market town of Thetford, Norfolk, an established commercial and industrial hub with excellent transport links. Thetford is situated in between Cambridge and Norwich with over 250,000 people within a 30 minute drive.
Situated just off the A11, Thetford offers direct access to Norwich (approximately 30 miles northeast) and Cambridge (around 35 miles southwest), making it an attractive location for businesses seeking regional connectivity.
The Keystone Innovation Centre is prominently situated at the junction of Mundford Road (A1066) and Croxton Road, approximately half a mile northeast of Thetford town centre and one mile south of the A1066/A11 junction. The building is conveniently located within walking distance to Thetford train station providing regular trains toward Cambridge and Norwich.
Floor areas
Ground floor: 380.20sqm (4,092sqft)
First floor: 387.87sqm (4,174sqft)
Second floor: 387.87sqm (4,174sqft)
Third floor: 357.67sqm (3,850sqft)
TOTAL: 1,513.61 (16,292sqft)
Net Internal Floor Area
Buyer Pack
The Buyer Pack includes:
* Tenancy schedule
* Supplier schedule
* Business rates schedule
* Invoices received in 2024
* EPC
* Old lease and licence agreements
* Floor plans
It should be noted, this is information we have obtained during the administration process. This may be incomplete and buyers must undertake their own investigations.
Planning
We understand the property has planning consent as use as: four storey innovation centre accommodating business start up units, cafe, KDT offices & ancillary facilities. Purchasers to make their own investigations.
Tenancies
The property is occupied by a wide variety of businesses. There are 14 tenants and 9 virtual tenants. These were a combination of licence agreements and commercial leases across all tenancies. There were 'determined' as part of the administration and new agreements will need to be created. The property is approximately 55% vacant and there is significant opportunity to increase the rent roll.
The passing rent for the building is c. £175,000 per annum, which includes service charge contributions, excluding income received from the training rooms.
Based on the application of the average achieved rent (£ per square foot), the ERV for the building is c. £375,000 per annum, including service charge contributions. Interested parties must make their own investigations.
Interested parties must make their own investigations.
Service Charge
A service charge is paid by the tenants who were occupying by way of commercial leases only. Details can be found in the Buyer Pack and new agreements will need creating following purchase of the building. Purchasers to make their own investigations.
Services
We understand the property has mains gas, electricity, water and drainage. Interested parties should make their own investigations.
EPC
Available upon request.
Tenure
Freehold
Guide price
Offers Invited
VAT
We understand VAT is applicable to the purchase price. Purchasers to make their own investigations.
Legal Costs
Each party to bear their own legal costs and professional fees.
Brochures
ParticularsKeystone Innovation Centre, Croxton Road, Thetford, Norfolk, IP24 1JD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Thetford Station0.2 miles
Notes
These notes are private, only you can see them.
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