Hardwick House Agricultural Hall Plain Norwich Norfolk NR1 3FS

  • Hardwick House<br>Agricultural Hall Plain<br>Norwich<br>Norfolk<br>NR1 3FS

Hardwick House
Agricultural Hall Plain
Norwich
Norfolk
NR1 3FS

Estate Agent/A2 Investment with Vacant Residential Penthouse, Lower Ground Floor Development Opportunity and Residential Ground

  • Commercial unit entirely let to Savills (L&P) Limited
  • Penthouse (subject to Prohibition Order) with vacant possession on completion
  • Planning to convert part lower ground to further residential
  • Part let as residential ground rents
  • Landmark building in the City Centre
  • Close to Anglia TV Headquarters and NFU Mutual
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    42
  • Auction
    10th December 2015
  • Rent
    £134,600 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of CBRE Joint Fixed Charge Receivers
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Estate Agent/A2 Investment with Vacant Residential Penthouse, Lower Ground Floor Development Opportunity and Residential Ground

  • Commercial unit entirely let to Savills (L&P) Limited
  • Penthouse (subject to Prohibition Order) with vacant possession on completion
  • Planning to convert part lower ground to further residential
  • Part let as residential ground rents
  • Landmark building in the City Centre
  • Close to Anglia TV Headquarters and NFU Mutual
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 42
  • Auction 10th December 2015
  • Rent £134,600 per Annum Exclusive
  • Status Withdrawn Prior
  • Price  
  • Sector
    Office
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of CBRE Joint Fixed Charge Receivers

Property Information

Location
Miles
12 miles west of Great Yarmouth, 42 miles north of Ipswich
Roads
A11, A140, A147
Rail
Norwich Railway Station
Air
Norwich International
Situation

The property is situated in a highly prominent location on Agricultural Hall Plain at its junction with Prince of Wales Road, opposite its junction with Upper King Street. The immediate vicinity is popular with restaurants and bars, as well as estate agents, employment agencies and solicitor’s offices. Nearby occupiers include NFU Mutual, Handelsbanken Norwich and Strutt & Parker.

Tenure

Freehold. Part Freehold (Penthouse, Residential Ground Rents and Part Lower Ground Floor) and Part Long Leasehold (Ground, Part Lower Ground and First Floors – let to Savills (L & P) Limited held for a term of 999 years from 9th November 2006 at a peppercorn rent.

Location
Miles
12 miles west of Great Yarmouth, 42 miles north of Ipswich
Roads
A11, A140, A147
Rail
Norwich Railway Station
Air
Norwich International
Situation

The property is situated in a highly prominent location on Agricultural Hall Plain at its junction with Prince of Wales Road, opposite its junction with Upper King Street. The immediate vicinity is popular with restaurants and bars, as well as estate agents, employment agencies and solicitor’s offices. Nearby occupiers include NFU Mutual, Handelsbanken Norwich and Strutt & Parker.

Tenure

Freehold. Part Freehold (Penthouse, Residential Ground Rents and Part Lower Ground Floor) and Part Long Leasehold (Ground, Part Lower Ground and First Floors – let to Savills (L & P) Limited held for a term of 999 years from 9th November 2006 at a peppercorn rent.

Description

The property, a Grade II listed building, comprises a commercial unit leased to Savills on the ground, part lower ground and first floor. In addition, there are 23 residential apartments and a three bedroom penthouse with a garage. Part of the lower ground floor comprises self-contained ancillary accommodation with existing planning permission to convert to two one bedroom flats (see “Planning” opposite).

Six Week Completion

Planning
The property benefits from planning permission (dated 31/05/2013) for the conversion of part of the lower ground floor to form two one bed apartments. For further information: Norwich City Council (Tel: +44(0)1603 212092) Application number 13/00259/F.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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, a Grade II listed building, comprises a commercial unit leased to Savills on the ground, part lower ground and first floor. In addition, there are 23 residential apartments and a three bedroom penthouse with a garage. Part of the lower ground floor comprises self-contained ancillary accommodation with existing planning permission to convert to two one bedroom flats (see “Planning” opposite).

Six Week Completion

Planning
The property benefits from planning permission (dated 31/05/2013) for the conversion of part of the lower ground floor to form two one bed apartments. For further information: Norwich City Council (Tel: +44(0)1603 212092) Application number 13/00259/F.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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

Lower Ground
(part)
First		 Estate Agent/A2 Ancillary
Ancillary/Storage

Offices/Ancillary
511.50 sq m

38.65 sq m
196.95 sq m
(5,498 sq ft)

(416 sq ft)
(2,120 sq ft)
 SAVILLS (L&P)
LIMITED		 15 years from 09/10/2008 until
08/10/2023 (1)		 £130,000 09/10/2018
Lower Ground
(part)		 Ancillary (see “Planning”)
120.77 sq m
(1,300 sq ft)
 VACANT – – –
Part Lower
Ground/
Part Ground		 23 Residential Apartments – (–) VARIOUS 125 years from 01/04/2007
each at a fixed ground rent of
£200 per annum		 £4,600  
Second Floor Penthouse – Comprises Three Bedrooms, Reception Room and
Two En-Suite Bathrooms (2)		 VARIOUS – – –
Total Commercial Area  
867.87 sq m
(9,342 sq ft)
     £134,600  

This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.


(1) The lease provides for a tenant option to determine on 9th October 2018. We understand that there have been discussions with Savills to remove their break option in return for a reduced rent.
(2)The penthouse is subject to a Prohibition Order – please see legal pack.
NB: The seller has served notice on the residential lessees under Section 5B of the Landlord and Tenant Act 1987.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Addleshaw Goddard LLP 100 Barbirolli Square
Manchester
M2 3AB
John Duffy 0161 934 6655john.duffy@addleshawgoddard.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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