Freehold Retail Investment and Part Vacant with Development Potential (subject to consents)
Prominent town centre location
Tenants include HSBC and River Island
Comprises 2,543 sq m (27,367 sq ft)
Nearby occupiers include Greggs (adjacent), WHSmith, Nationwide and Lloyds
Lot 42
Auction 11th December 2019
Rent £122,300 per Annum Exclusive
Status Sold
Price £750,000
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On behalf of a Major Fund Manager
Property Information
Location
Miles
19 miles east of Norwich
54 miles north of Ipswich
74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth
Air
Norwich International Airport
Situation
The property occupies a prominent position on the western side of the pedestrianised King Street, at its junction with Regent Street. Market Place is diagonally opposite, which is a historic and bustling market place that hosts its famous markets twice a week. The property is between Market Gates Shopping Centre and Victoria Arcade opposite, with a number of the town's car parks close by. Nearby occupiers include Greggs (adjacent), WH Smith, Nationwide, Lloyds, Barclays, Halifax, Betfred and Palmers department store.
Tenure
Freehold.
Location
Miles
19 miles east of Norwich
54 miles north of Ipswich
74 miles north of Colchester
Roads
A12, A47, A143
Rail
Great Yarmouth
Air
Norwich International Airport
Situation
The property occupies a prominent position on the western side of the pedestrianised King Street, at its junction with Regent Street. Market Place is diagonally opposite, which is a historic and bustling market place that hosts its famous markets twice a week. The property is between Market Gates Shopping Centre and Victoria Arcade opposite, with a number of the town's car parks close by. Nearby occupiers include Greggs (adjacent), WH Smith, Nationwide, Lloyds, Barclays, Halifax, Betfred and Palmers department store.
Tenure
Freehold.
Description
The property comprises 3 ground floor shops with ancillary accommodation on the first and second floors. There is an electrical substation on site.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Great Yarmouth Borough Council. www.great-yarmouth.gov.uk
Completion Period
Six Week Completion
EPC
See legal pack at acuitus.co.uk
Description
The property comprises 3 ground floor shops with ancillary accommodation on the first and second floors. There is an electrical substation on site.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Great Yarmouth Borough Council. www.great-yarmouth.gov.uk
(1) HSBC is one of the world's largest banking and financial services organisations, serving more than 40 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Their network covers 65 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America (Source : www.hsbc.co.uk). (2) With over 60 years of fashion retailing experience, River Island is one of the most well-known and loved brands........with over 350 stores across the UK, Ireland and internationally throughout Asia, the Middle East and Europe.......... (Source : www.riverisland.com).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays Sheffield S2 5SY
