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AGENT'S DETAILS


17 Victoria Road, Norfolk, IP22 4HW

For sale: £595,000.00|0.26 Hectares|Retail - High Street, Retail

PROPERTY DETAILS

FOR SALE£595,000.00
SIZE0.26 Hectares
ADDRESS17 Victoria Road, Diss, Norfolk, IP22 4HW
TYPERetail - High Street, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON18th May 2020

DESCRIPTION

The property occupies a prominent position on the A1066 (Victoria Road) in the centre of the town. Other nearby occupiers include Morrisons, Tesco, Aldi, The Original Factory Shop, Jewsons, Ridgeons and various other national and independent businesses.

The property comprises a detached showroom and forecourt, garage workshop with reception and first floor offices/stores and further workshop/store building arranged around a surfaced forecourt and yard. The site extends to approximately 0.261 hectares (0.64 acres).

The property provides the following approximately gross internal floor areas and dimensions:

(a) Showroom 226.17 sq m (2,434 sq ft)
(b) Garage premises:
Two storey section196.65 sq m (2,117 sq ft)
Main workshop191.75 sq m (2,064 sq ft)
(c) Rear workshop/store127.08 sq m (1,368 sq ft)
Total741.65 sq m (7,983 sq ft)

The property is subject to a lease for a term of 20 years from 19th July 2002. The lease is upon full repairing and insuring terms. The current rent is £33,280 per annum. The lease provided for rent reviews in July 2012 and July 2017 although these have not been implemented.

The majority of the property is occupied by the tenant's business Eco World (UK) Limited trading as RG Golfs.co.uk. The showroom was most recently sublet to a conservatories business although this is no longer in occupation and the head lessee is in the process of reletting the premises.

The rear workshop is subject to an informal sub-tenancy.

The investment is considered to have good potential for lease re-gearing and rental growth.




( Agency Pilot Software Ref: 14868880 )

LOCATION

Location: 17 Victoria Road, Diss, Norfolk, IP22 4HW

Diss (0.3 miles)

Eccles Road (9.6 miles)

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