2-6 Thorpe Road Norwich Norfolk NR1 1RY

2-6 Thorpe Road
Norwich
Norfolk
NR1 1RY

Freehold Restaurant Investment

Entirely let to Prezzo plc on a 25 Year Lease until 2030 (no breaks)
Attractive building in prominent corner position directly opposite Norwich Railway Station
Nearby occupiers include the Riverside Leisure Park, Kwik-Fit, KFC, Argos and Morrisons

Lot
17
Auction
27th March 2014
Rent
£75,000 per Annum Exclusive
Status
Sold
Price
£1,250,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Restaurant Investment

Entirely let to Prezzo plc on a 25 Year Lease until 2030 (no breaks)
Attractive building in prominent corner position directly opposite Norwich Railway Station
Nearby occupiers include the Riverside Leisure Park, Kwik-Fit, KFC, Argos and Morrisons

Lot 17
Auction 27th March 2014
Rent £75,000 per Annum Exclusive
Status Sold
Price £1,250,000
Sector
Restaurant
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 44 miles north of Ipswich, 62 miles north-east of Cambridge
Roads: A1042, A11, A47, A146
Rail: Norwich Railway Station
Air: Norwich International Airport

Situation

The property is a substantial, attractive restaurant building situated in an established leisure district within Norwich city centre, at the junction of Riverside Road (A147), Prince of Wales Road and Thorpe Road. The property lies directly opposite Norwich Railway Station and within close proximity of Riverside Leisure Park which houses occupiers such as Odeon Cinema, Hollywood Bowl, Pizza Hut, Nandos and TGI Fridays. Other nearby occupiers include Argos, Morrisons and KFC.

Tenure

Freehold.

Location

Miles: 44 miles north of Ipswich, 62 miles north-east of Cambridge
Roads: A1042, A11, A47, A146
Rail: Norwich Railway Station
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground and first floor restaurant with residential accommodation on the second floor comprising five rooms, kitchen and WC. The property benefits from an enclosed yard area to the rear.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First Second	Restaurant Restaurant Residential	137.50 sq m 127.62 sq m 103.75 sq m	(1,481 sq ft) (1,374 sq ft) (1,117 sq ft)	PREZZO PLC(1)	25 years from 07/01/2005 until 06/01/2030 on a full repairing and insuring lease	£75,000	07/01/2015 and five yearly thereafter
Totals		368.87 sq m	(3,972 sq ft)			£75,000

(1) For the year ending 30/12/2012, Prezzo Plc reported a turnover of £144,524,000, pre-tax profits of £17,324,000 and a total net worth of £90,195,000. (Source: www.riskdisk.com 25/02/2014)