9 White Lion Street Norwich Norfolk NR2 1QA

9 White Lion Street
Norwich
Norfolk
NR2 1QA

High Yielding Freehold Retail Investment

Let to Specsavers Optical Superstores Limited
Excellent trading location between Castle Mall Shopping Centre & Haymarket/Gentleman's Walk, and close to Royal Arcade
10 year lease from September 2019 (subject to option)
Rent re-based in 2019
Comprises 462.50 sq m (4,979 sq ft), including testing rooms on upper floors
Nearby retailers include Primark, Flying Tiger, Boots the Chemist, TK Maxx, Bill's, Holland & Barrett, FatFace and WH Smith

Lot
8
Auction
13th December 2021
Rent
£126,250 per Annum Exclusive
Status
Sold
Price
£1,305,000
Auction Venue
Live Streamed Auction
on behalf of a Real Estate Investment Trust

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High Yielding Freehold Retail Investment

Let to Specsavers Optical Superstores Limited
Excellent trading location between Castle Mall Shopping Centre & Haymarket/Gentleman's Walk, and close to Royal Arcade
10 year lease from September 2019 (subject to option)
Rent re-based in 2019
Comprises 462.50 sq m (4,979 sq ft), including testing rooms on upper floors
Nearby retailers include Primark, Flying Tiger, Boots the Chemist, TK Maxx, Bill's, Holland & Barrett, FatFace and WH Smith

Lot 8
Auction 13th December 2021
Rent £126,250 per Annum Exclusive
Status Sold
Price £1,305,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
on behalf of a Real Estate Investment Trust

Property Information

Location

Miles: 45 miles north of Ipswich; 61 miles north-east of Cambridge
Roads: A11, A47, A140, A146
Rail: Norwich
Air: Norwich Airport

Situation

Norwich is a Cathedral City in the county town of Norfolk, with a population of 141,300. Norwich is located 45 miles north of Ipswich, 61 miles north-east of Cambridge and 73 miles east of Peterborough and benefits from regular rail services to London Liverpool Street (1 hour 50 minutes). The property is located on the south side of the pedestrianised White Lion Street, between Haymarket, Gentleman's Walk & Castle Mall Shopping Centre with retailers nearby including Primark, Flying Tiger, Boots the Chemist, TK Maxx, Bill's, Holland & Barrett, FatFace and WH Smith.

Tenure

Freehold.

Location

Miles: 45 miles north of Ipswich; 61 miles north-east of Cambridge
Roads: A11, A47, A140, A146
Rail: Norwich
Air: Norwich Airport

Situation

Tenure

Freehold.

Description

The property comprises a large, triple fronted ground floor shop with further retail/ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Description

The property comprises a large, triple fronted ground floor shop with further retail/ancillary accommodation on the first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Second	Retail/Ancillary Retail/Ancillary Retail/Ancillary	216.20 sq m 186.90 sq m 59.60 sq m	(2,327 sq ft) (2,011 sq ft) (641 sq ft)	SPECSAVERS OPTICAL SUPERSTORES LIMITED (1)	10 years from 01/10/2019 until 30/09/2029 (2) on a full repairing and insuring lease	£126,250	01/10/2024
Total		462.50 sq m	(4,979 sq ft)			£126,250

(1) For the year ending 29/02/2020, Specsavers Optical Superstores Limited reported a turnover of £696,410,000, pre-tax profits of £20,929,000 and total shareholder's equity of £86,047,000 (NorthRow 22/10/2021).
(2) The lease is subject to a tenant option to determine on 01/10/2024.

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.