Jordan Keating
jordank@jacksoncriss.co.uk
020 7637 7100
Prime Freehold Unbroken Retail Parade For Sale In A Historic Cathedral City
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Norwich is an affluent cathedral city offering a retail and administrative hub that dominates the wider East Anglia catchment area.
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The property occupies a 100% prime trading location on Castle Street, which sits amongst Norwich’s premier shopping district.
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Benefits from high footfall due to its proximity to Castle Quarter Shopping Centre, Norwich Castle and Norwich’s prime shopping streets.
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Four well configured retail units, set over ground and two upper floors extending to 6,952 sq ft (645.85 sq m).
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Part-let to the undoubted covenants of Boots Opticians and Crew Clothing, with Experian Ratings of 100/100.
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Strong occupational demand demonstrated by a recent letting to Kokoro and Boots Opticians renewing their lease.
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Total current passing rent of £197,825 per annum.
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WAULT of 5.2 years to expiry and 3.0 years to break.
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Freehold.
We are instructed to seek offers in excess of £2,190,000 (Two Million One Hundred and Ninety Thousand Pounds) subject to contract and exclusive of VAT, which reflects a net initial yield of 8.50% after allowing for the deduction of standard purchaser’s costs. The price reflects a capital value of £315 psf.
Tenure:
Freehold
Yield:
8.50 %
Price:
£2,190,000
Contact:
PHILIP HAY - BSc (Hons) MRICS
Tel: 07770 580 590
Email: phay@jacksoncriss.co.uk
RHODRI JONES - BSc (Hons) MSc
Tel: 07570 684 444
Email: rjones@jacksoncriss.co.uk