Entirely let to Lexham Insurance Consultants Limited until 2023 (subject to option)
Situated in a prominent commercial district in close proximity to Diss Railway Station
Approximately 691 sq m (7,444 sq ft)
On site car parking for approximately 50 cars
Six Week Completion
Lot 45
Auction 27th March 2014
Rent £52,108 per Annum Exclusive
Status Sold
Price £515,000
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
23 miles south of Norwich, 24 miles north of Ipswich, 36 miles south-west of Great Yarmouth, 50 miles east of Cambridge
Roads
A140, A143, A1066
Rail
Diss Railway Station (London Liverpool Street in 90 mins)
Air
Norwich International Airport (22 miles), London Stansted Airport (50 miles)
Situation
Diss is a market town strategically located in the heart of East Anglia between Norwich, Ipswich and Bury St Edmunds. The property is situated on the south side of Gilray Road to the east of Diss’ town centre and within close proximity to Diss Railway Station.
It is located in an established commercial district and benefits from close access to Victoria Road (A1066) and the A140 dual carriageway.
Tenure
Freehold.
Location
Miles
23 miles south of Norwich, 24 miles north of Ipswich, 36 miles south-west of Great Yarmouth, 50 miles east of Cambridge
Roads
A140, A143, A1066
Rail
Diss Railway Station (London Liverpool Street in 90 mins)
Air
Norwich International Airport (22 miles), London Stansted Airport (50 miles)
Situation
Diss is a market town strategically located in the heart of East Anglia between Norwich, Ipswich and Bury St Edmunds. The property is situated on the south side of Gilray Road to the east of Diss’ town centre and within close proximity to Diss Railway Station.
It is located in an established commercial district and benefits from close access to Victoria Road (A1066) and the A140 dual carriageway.
Tenure
Freehold.
Description
The property comprises a self-contained office over ground and first floors with a reception area fronting Gilray Road. The property benefits from on-site parking for approximately 50 cars.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a self-contained office over ground and first floors with a reception area fronting Gilray Road. The property benefits from on-site parking for approximately 50 cars.
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
Review
Ground First
Reception/Office Office
369 sq m 322 sq m
(3,983 sq ft) (3,461 sq ft)
LEXHAM INSURANCE CONSULTANTS LIMITED (1)
10 years from 06/12/2013 until 05/12/2023 on a full repairing and insuring lease (2) (3)
£52,108
06/12/2018
Totals
691 sq m
(7,444 sq ft)
£52,108
(1) Established in October 2000 Lexham Insurance has rapidly expanded and now handles insurance policies for tens of thousands of drivers in the UK and Northern Ireland. (Source: http://www.lexhaminsurance.co.uk/ 25/02/2014) (2)The lease provides a tenant option to determine at the end of fifth year of the term. (3)For the purpose of clarification, Lexham Insurance Consultants Limited is currently benefiting from an effective rent free period due to expire on 3rd July 2014. The seller has agreed to adjust the completion monies so that the unit will effectively produce £52,108 p.a.x. from completion of the sale.
