LET COMMERCIAL INVESTMENT WITH 4 LET FLATS

NORWICH CITY CENTRE, NORFOLK

This mixed-use investment property combines residential and commercial accommodation in the centre of Norwich. Its varied accommodation, established tenancy profile and central location present an attractive opportunity for a buyer seeking income from several units within one building.

The property comprises four individually arranged apartments and a separate commercial unit, providing a balanced mix of residential and commercial rental income.


INVESTMENT:

The investment comprises five lettable units, all of which are currently let. The residential accommodation produces monthly rents of £775 for Flat 1, £1,000 for Flat 2, £625 for Flat 3 and £1,500 for Flat 4.

The commercial unit is let at £1,100 per month on a ten-year lease commencing 12 September 2025. Together, the listed rents provide a total monthly income of £5,000, equivalent to £60,000 per annum.

The residential tenancy commencement dates are 7 June 2024 for Flat 1, 17 June 2025 for Flat 2, 23 November 2018 for Flat 3 and 27 July 2026 for Flat 4, demonstrating a mix of established and more recent lettings.


PREMISES:

The property is arranged over six floors, with a central street-level entrance opening into the communal residential hallway and staircase serving the apartments. A separate entrance provides direct access to the commercial unit.

The commercial unit occupies the ground floor and basement. Previously used as a karaoke bar, the premises are currently being renovated by the tenant for use as a restaurant. Prospective purchasers should be aware that the restaurant cannot open until the matters identified through the fire assessment and compartmentation survey have been satisfactorily resolved.

An atrium offering views across Norwich city centre is accessed by spiral stairs from Flat 4.


ACCOMMODATION:

Flat 1 comprises an entrance hall, sitting and dining room, kitchen, double bedroom, storeroom and family bathroom.

Flat 2 is a spacious two-bedroom apartment arranged over four levels. It includes an entrance hall, kitchen and dining room, large sitting room with city views, two double bedrooms, a bathroom and a separate WC.

Flat 3 is a one-bedroom apartment comprising an entrance hall, sitting and dining room, kitchen, bathroom, storage and a balcony.

Flat 4 is a spacious split-level three-bedroom apartment with an open-plan sitting, dining and kitchen area, bathroom, en-suite shower room and storage. Spiral stairs provide access from the apartment to the atrium which offers stunning views over Norwich City.


KEY INFORMATION:

AGENTS NOTE: This is a business for sale as a going concern, not an empty premises for sale or let.

CONFIDENTIAL INFORMATION: In order to release further information on the business – such as the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.

REFERENCE NUMBER: INV37135E.

TENURE: Freehold including one commercial unit let on a 10 year lease, and four flats all currently let on standard residential tenancy agreements.

RATES PAYABLE: The individual tenants are responsible for the Business Rates and Council Tax payable in respect of each unit.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC: Commercial Unit: The Energy Performance Certificate shows a rating of ‘38/B’.
Flat 1: The Energy Performance Certificate shows a rating of ‘71/C’.
Flat 2: The Energy Performance Certificate shows a rating of ‘66/D’.
Flat 3: The Energy Performance Certificate shows a rating of ‘73/C’.
Flat 4 : The Energy Performance Certificate shows a rating of ‘41/E’.

Full Energy Performance Certificate documents available on request.

PRICE: £800,000.

Comprising the freehold interest of the commercial premises and 4 flats. The flats and commercial premises will be sold subject to the existing tenancy agreements.

VIEWING: Viewing is strictly by appointment only. Please contact us at your earliest convenience to schedule a time that suits you.

FINANCE: If you require assistance with business financing or commercial mortgages (subject to eligibility), we may be able to help. Let us know if you would like our support, and we will gladly put you in touch with our recommended whole-of-market broker.

BUSINESS TO SELL: Thinking of selling your business? That’s our specialty. If you’re curious about its value, we offer a free, confidential valuation service. Simply pick the day and time that work best for you, and we will provide an honest, professional assessment. Feel free to get in touch with our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing each business in a way that truly stands out. Our listings include high-quality property details and comprehensive information across all major online platforms, as well as our own website. If you want your business to shine, call us to arrange a complimentary valuation.


DISCLAIMER:

1. MONEY LAUNDERING REGULATIONS: Prospective buyers will be required to provide identification documentation and proof of funding during the purchasing process. Cooperation is appreciated to ensure the sale proceeds without unnecessary delays.

2. PARTICULARS: While we strive to ensure all information is accurate and reliable, it serves as a general guide only. Should any particular details be of special importance, please contact us so we can verify the information before you travel to view.

3. MEASUREMENTS: Provided room sizes are approximate and intended solely for general guidance. Prospective buyers are advised to independently verify all measurements to ensure accuracy.

4. SERVICES: Please note we have not tested the services or any of the equipment or appliances.