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Retail Property (high street) for sale

Boots Investment, 68, High Street, Stalham, NR12

Withdrawn from Market £200,000
2,323 sq. ft.

Property Description

Commercial information

  • 2,323 sq ft (215 sq m)

Key features

  • For Sale By Auction
  • First Class Occupier
  • Two Residential Flats
  • Potential Rear Development Plot (STP)

Full description

Tenure: Freehold

***FOR SALE BY AUCTION - LOT 5***

On Monday 23rd October 2017 at 3.15 pm at Keys Fine Art Auctioneers, Palmer Lane, Aylsham, Norfolk, NR11 6JA.

The property has a declared reserve of £200,000.

The property is situated in the heart of the market town of Stalham. Stalham is a town with a population of just under 4,000, serving a large and diverse rural catchment. The town is situated on the A149 Cromer to Great Yarmouth trunk road at its intersection with the A1151 Norwich to Wroxham Road. It is approximately 15 miles north east of Norwich. Stalham high street is characterised by a variety of independant traders and the Tesco superstore. Tesco has helped to anchor Stalham as a retail destination and the subject property is well positioned for pedestrian links between the town centre and the Tesco superstore. The subject property comprises a well proportioned retail unit on the ground floor with first floor consultation rooms and two separate flats.

The retail unit has been extensively fitted out by the current occupier, Boots, to include a good quality retail specification incorporating suspended ceiling with recessed strip lighting and air-conditioning.

Immediately to the rear of the main building is a gravelled car park with external store and car parking for ten cars.

To the rear of this is a small corrugated iron building with adjacent area of land which we believe has further development potential. (STP).

The property is held freehold and the ground floor and part first floor is leased to Boots UK Limited, on a 10 year lease from 1 June 2016. The passing rent is £13,500 per annum with a five year rent review.

The flats have recently been re-let and they have most recently achieved £395 pcm and £450 pcm, this has the potential to produce an additional gross rent of £10,140 pa.

This equates to a potential total gross income of £23,640 per annum.

This equates to a potential total gross income of £23,640 per annum.

The majority of the income is secured by Books UK Limited, a Grade A covenant and subsidiary of Alliance Boots GmbH with £23.4 Bn annual revenue.


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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Arnolds Keys, Norwich - Commercial on 01603 950248.


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