21-24 Royal Arcade is a prime restaurant arranged over ground and first floors, with an approximate total net internal floor area of 11,743 sq ft, including ancillary. The restaurant occupies a prominent location at the junction of the Royal Arcade, Back of the Inns and Castle Street and is a Grade Listed property. Bill's and Patisserie Valerie are in close proximity, whilst other established retailers include Joules, L'Occitane and Dr. Martins.
The Royal Arcade occupies a prime location on Gentleman's Walk and links through to Back of the Inns. The Royal Arcade is one of Norwich's principal tourist attractions, not just for its famous art nouveau architecture, but also its wide range of specialist retailers. Norwich was ranked as the 2nd Hottest Retail Location in the UK (CACI 2015). The city has a population of 170,000 persons and a regional catchment area of one million residents. In addition approximately five million tourists visit Norwich annually.
Ground Floor Restaurant2841 sq ft263.9 sq m
First Floor Restaurant5474 sq ft 508.5 sq m
Ancillary/Restaurant 2352 sq ft 218.5 sq m
Basement Ancillary1076 sq ft99.9 sq m
Total11743 sq ft1090.8 sq m
The unit is available by way of a new effectively full repairing and insuring lease, subject to five yearly upward only rent reviews.
Rent is upon application.
The Valuation Office Agency website indicates that the 2017 Rateable Value is £151,000. This is not the annual rates payable.
The rates payable will depend on the occupier's circumstances and can be obtained from either Norwich City Council (Business Rates: 0344 980 3333), or via www.gov.uk/correct-your-business-rates which includes a rates payable calculator.
( Agency Pilot Software Ref: 165080 )