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11
Lot 12
13

3 Magdalen Street, Norwich, Norfolk, NR3 1LE

Sold for £66,000
Prime Norwich investment... high-yield, central location, diverse potential

Property Details

Description

This freehold investment is located in a prime position in Norwich city centre. The upper floors consist of two self-contained residential units, sold on long leases, generating a peppercorn rent. The ground floor features a double-fronted retail unit, currently let on a lease that originally spanned five years and is now holding over, offering a reliable and stable yield. This property presents an exceptional investment opportunity in a desirable area, making it ideal for investors seeking to benefit from its potential for varied commercial uses. With its strong returns and prime location, it is an attractive proposition for those looking to expand their portfolio.

Key Features

  • NORWICH CENTRE
  • FREEHOLD INVESTMENT
  • GROUND FLOOR RETAIL
  • LEASE SINCE 2016
  • £6000 P.A.
  • STRONG YIELD
  • MIXED USE POTENTIAL
Tenure

Freehold

EPC

N/A

Viewing

By appointment with the Auctioneers

Solicitors

Toby Kramers
Ellisons Solicitors
Arcade Chambers,
2-6, Arcade Street,
Ipswich,
Suffolk, IP1 1EL

Tenancy

5 Year lease from 2016
Now periodic

Current Yield.

£6,000 pa

Location

3 Magdalen Street, Norwich, Norfolk, NR3 1LE

*Guide prices are provided as an indication of a vendor’s minimum expectation and the level at which the reserve is set. Properties may not always sell within this guide and this figure may change at any time prior to the auction. The sale price will be dependent upon bidding in the auction room and on the Vendors’ instructions.

Reserve Price Each property will be sold subject to a reserve price, which will be set within, or below, the guide price range or no more than 10% above a single figure guide. This is a confidential figure set between the Vendor and the Auctioneer and is a figure below which the Auctioneer cannot sell the property.

Additional Fees All buyers are liable to pay an Administration Charge of £1,200 inclusive of VAT. Other fees disbursements may also apply, therefore before making a purchase, please refer to the Legal Pack and Special Conditions.