100 Magadalen Street Norwich Norfolk NR3 1JB

100 Magadalen Street
Norwich
Norfolk
NR3 1JB

Freehold Former Bank/Retail Investment

Entirely let to Barclays Bank plc until 2028 (subject to option)
Approximately 762.15 sq m (8,204 sq ft)
Fronting Anglia Square Shopping Centre housing tenants including Boots the Chemist, 99p Stores and Iceland
VAT-free investment
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
63
Auction
10th December 2015
Rent
£44,000 per Annum Exclusive
Status
Sold
Price
£528,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Former Bank/Retail Investment

Entirely let to Barclays Bank plc until 2028 (subject to option)
Approximately 762.15 sq m (8,204 sq ft)
Fronting Anglia Square Shopping Centre housing tenants including Boots the Chemist, 99p Stores and Iceland
VAT-free investment
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 63
Auction 10th December 2015
Rent £44,000 per Annum Exclusive
Status Sold
Price £528,000
Sector
Bank
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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 the western side of Magdalen Street, at its junction with Edward Street and close to St. Crispins Road (A147), about 2 miles north of Norwich City Centre. The property fronts Anglia Square Shopping Centre which houses retailers including Boots the Chemist, Poundstretcher, 99p Stores, Greggs and Savers. Adjacent to the property is a large multi-storey car park.

Tenure

Freehold.

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

Tenure

Freehold.

Description

The property comprises a ground floor former bank with ancillary accommodation in the basement and office/ancillary accommodation on the first floor

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 not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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 Basement First	Retail Ancillary Offices/Ancillary	362.96 sq m 165.08 sq m 234.11 sq m	(3,907 sq ft) (1,777 sq ft) (2,520 sq ft)	BARCLAYS BANK PLC (1)	20 years from 15/01/2008 until 14/01/2028 (2) on a full repairing and insuring lease (3)	£44,00029/09/2018 and 29/09/2023	29/09/2018 and 29/09/2023
Total Commercial Area		762,15 sq m	(8,204 sq ft)			£44,000

(1) For the year ending 31st December 2014, Barclays Bank Plc reported pre-tax profits of £2,309,000,000 and a total net worth of £55,576,000,000 (Source: Experian Group 09/11/2015). The property is entirely sub-let to a tenant that will trade as Desh Cash and Carry. Desh Cash and Carry are due to be trading in time for Christmas.
(2)The lease provides for a tenant option to determine on 15/01/2023.
(3)The lease is subject to a Schedule of Condition