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Agent's details

INVESTMENT FOR SALE CITY CENTRE 24, 24d, Flat 1 and Flat 2 Magdalen Street, Norwich, Norfolk, NR3 1HU

For sale: £340,000.00|3,280 Sq Ft|Retail - High Street, Other, Retail, Other Property Types & Opportunities

Property details

FOR SALE£340,000.00
SIZE3,280 Sq Ft
ADDRESSINVESTMENT FOR SALE CITY CENTRE 24, 24d, Flat 1 and Flat 2 Magdalen Street, Norwich, Norfolk, NR3 1HU
TYPERetail - High Street, Other, Retail, Other Property Types & Opportunities
TENUREUnder Offer, For Sale Freehold
POSTED ON12th March 2021

Description

The property comprises a three storey Grade II listed late Georgian/ early Victorian building with two ground floor shops and flats on the first and second floor which are currently occupied as one.

The property is prominently positioned at the Norwich City end of Magdalen Street, close to Colegate Street. The property is a short walk away from Norwich City centre and the historic Tombland area of Norwich home to the Cathedral.

The freehold is available to purchase and has an asking price of £340,000.

The property is prominently positioned at the Norwich City end of Magdalen Street, close to Colgate Street. The property is a short walk away from Norwich City centre and the historic Tombland area of Norwich home to the Cathedral.

Lease terms

Unit 24a is a ground floor lock up shop which let to Mr Harber for 6 years of which he is holding over from August 1988 for a rent of £3,500 per annum on tenant's Full Repairing and Insuring terms.

Unit 24d is a ground floor lock up shop which is let to Mr Atiqual Islam for 3 years of which he is also holding over from November 2004 for a rent of £5,000 per annum on tenant's Full Repairing and Insuring terms.

Flat 1 and Flat 2 are occupied as one flat by Paul Foreman from June 1979 under a Rent Act tenancy described on the register as a maisonette over commercial, without central heating. There is access from the ground floor leading to 3 rooms, 1 kitchen, 1 bathroom and 1 WC on the first floor and 3 rooms and 1 bathroom/ WC on the second floor. There is one parking space at the rear of the property. The rent is listed as £1,625 per quarter.

The current combined income is £15,000 per annum exclusive.

The freehold is available to purchase and has an asking price of £340,000.
( Agency Pilot Software Ref: 407500 )

Location

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Location: INVESTMENT FOR SALE CITY CENTRE 24, 24d, Flat 1 and Flat 2 Magdalen Street, Norwich, Norfolk, NR3 1HU

Norwich (0.7 miles)

Salhouse (4.9 miles)

Brundall Gardens (5.2 miles)

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