2 Magdalen Street, Norwich, Norfolk, NR3

Description

The property comprises a retail / office premises with with a glazed return frontage and recessed entrance in a prominent position on the corner of Magdalen Street and Colegate. The first, second and third floors provides offices / storage space. WC's and kitchen facilities are located on the first and second floor.

Location

Norwich has a population of approximately 148,000 persons and a regional catchment area of one million residents. In addition, approximately five million tourists visit Norwich annually. Magdalen Street is a busy thoroughfare linking the city centre with Anglia Square and the north of the city. Magdalen Street has a strong mix of independent eclectic retailers including restaurants, hairdressers, antiques, and specialty retailers. It is a destination retail location and benefits from being on a major bus route.

Accommodation Description

The property has the following approximate net internal floor areas:

Ground floor sales: 489 sq ft (45.4 sq m)
First floor offices: 556 sq ft (51.6 sq m)
Second floor offices: 556 sq ft (51.5 sq m)
Third floor offices: 237 sq ft (22.0 sq m)
Outside storage: 133 sq ft (12.4 sq m)
Total: 1,971 sq ft (183.1 sq m)


Terms

The property is available by way of a new full repairing and insuring lease for a term to be agreed.

Rates

The Valuation Office Agency website indicates that as from April 2023 the Rateable Value is £19,000. This is not the annual rates payable. The rates payable will depend on the occupier's circumstances and can be obtained from which includes a rates payable calculator.

Legal costs

Each party is to be responsible for their own legal costs incurred in the transaction.