15 Magdalen Street, Norwich, Norfolk, NR3

Description

The property comprises a three-storey mid-terrace building currently occupied by Dhaba 15, an established Indian restaurant in occupation since 2013. The ground floor provides a restaurant and commercial kitchen, with additional seating and residential accommodation to the upper storeys. To the rear of the building are some attached stores fronting onto Thoroughfare Yard.

Location

The property is located on Magdalen Street, a short distance from Norwich city centre and the Anglia Square redevelopment scheme. The area is known for its wide array of independent retailers and leisure operators, with notable occupiers in the immediate vicinity including The Merchant's House coffee bar, The Mischief public house, Looses Emporium, Oxfam, and Iconic Dent dental care.

Terms

The property is offered for sale on a freehold basis, subject to the current 15-year FRI lease on the restaurant and flat, expiring 30th July 2028. The passing rent is £15,000 per annum. The lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954.


Rates

The Valuation Office Agency website indicates that as from April 2026 the Rateable Value will be £11,250. This is not the annual rates payable. The flat falls within Council Tax band A.

The rates payable will depend on the occupier's circumstances and can be obtained from which includes a rates payable calculator.