35 to 36 Market Place North Walsham Norwich Norfolk NR28 9BT

35 to 36 Market Place
North Walsham
Norwich
Norfolk
NR28 9BT

Freehold Retail and Residential Investment

Comprises a Shop and 2 x Self-Contained Flats
Shop Let to Aimes Limited (t/a Costa Coffee) Until 2033 (No Breaks)
Central Location in Attractive Market Town
Nearby Occupiers include Boots, Lidl, Specsavers, Santander and a Mix of Local Retailers
VAT-Free Investment

Lot
17
Auction
27th March 2024
Rent
£32,100 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Retail and Residential Investment

Comprises a Shop and 2 x Self-Contained Flats
Shop Let to Aimes Limited (t/a Costa Coffee) Until 2033 (No Breaks)
Central Location in Attractive Market Town
Nearby Occupiers include Boots, Lidl, Specsavers, Santander and a Mix of Local Retailers
VAT-Free Investment

Lot 17
Auction 27th March 2024
Rent £32,100 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 15 miles north-east of Norwich, 8 miles south of Cromer
Roads: A149, B1145
Rail: North Walsham Rail Station

Situation

North Walsham is an attractive Market Town some 15 miles north-east of Norwich. The property is situated in the Town Centre on the north side of Market Place with nearby occupiers including Boots, Lidl, Specsavers, Santander and a mix of local retailers.

Tenure

Freehold.

Location

Miles: 15 miles north-east of Norwich, 8 miles south of Cromer
Roads: A149, B1145
Rail: North Walsham Rail Station

Situation

Tenure

Freehold.

Description

The property is an attractive Grade II listed building that comprises a ground floor shop with ancillary accommodation in the basement and two self-contained one bedroom flats that are accessed via the rear of the property.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Retail unit = Band D. Flats = 2x Band E.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Retail unit = Band D. Flats = 2x Band E.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review (Reversion)
Ground Basement	Retail Ancillary	31.90 44.40	(343) (478)	AIMES LIMITED (t/a Costa Coffee)(CRN: 04261241) (2)	15 years from 17/11/2018	£15,000	17/11/2028 (16/11/2033)
35a	1 Bed Flat	-	(-)	INDIVIDUAL	Assured Shorthold Tenancy for 1 year from 04/03/2023	£8,100	(04/03/2024)
36a	1 Bed Flat	-	(-)	INDIVIDUAL	Assured Shorthold Tenancy for 1 year from 10/03/2023	£9,000	(04/03/2024)
Total Approximate Commercial Floor Area		76.30	(821)			£32,100

(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.gov.uk/find-business-rates)
(2) For the year ending 31st December 2022, Aimes Limited did not report a turnover or a pre-tax profit but reported a net worth of £2,509,046 (Northrow 04/03/2024). The Tenant forms part of the Scoffs Group Limited which is the largest franchised partner with Costa Coffee in the UK and currently trades from 101 stores nationwide (www.scoffs-group.co.uk).

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.