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Watton - Freehold Dental Practice Investment

For sale: £550,000.00|3,980 Sq Ft|General Retail, Healthcare, Other, Retail, Other Property Types & Opportunities

Property details

FOR SALE£550,000.00
SIZE3,980 Sq Ft
ADDRESSClarence House Dental Care, 78 High Street, Watton, Thetford, Norfolk, IP25 6AW
TYPEGeneral Retail, Healthcare, Other, Retail, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON30th August 2021

Description

Investment Consideration:
Gross Initial Yield: 5.00%
Rental Income: £27,500 p.a.
VAT is NOT applicable to this property
Comprises detached Victorian building, arranged over ground, first and second floor, currently operating as a dental practice
Let until 2034 (No Breaks)
Clacton Dental Care provides NHS services and also have some of the most sophisticated dental equipment and cosmetic dentistry treatments offering, including world famous Invisalign, 3D Itero scanning and teeth whitening.
Property benefits from 4 car parking spaces at rear
Nearby occupiers include Barclays Bank, Boots Pharmacy, Post Office, amongst others.

Property Description:
The property comprises detached Victorian building, arranged over ground, first and second floor, currently operating as a dental practice. The property benefits from 4 car parking spaces at rear.

The property provides the following accommodation and dimensions:
Ground Floor: Reception, Surgery Rooms, Storage, Kitchen
First Floor: Office, Surgery Rooms, Staff Room, Storage
Second Floor: Office, Staff Room, Storage
Total area size: 370 sq m (3,980 sq ft)

Tenancy:
The entire property is let to Clacton Dental Care Ltd* for a term of 15 years from 12th December 2019 at a current rent of £27,500 per annum and the lease contains full repairing and insuring covenants. Rent review in 2024 and 2029. No breaks.
*Note - Clacton Dental Care is a large dental practice operator with more than 30 locations across UK.

Location:
Watton is a market town in the district of Breckland in the English county of Norfolk, about 25 miles (40 km) west-southwest of Norwich and 14.5 miles (23.3 km) northeast of Thetford. The A1075 is the main road through Watton, connecting it to Thetford and Dereham. The property is located on the high street with occupiers nearby including Barclays bank, Boots pharmacy, Post Office, takeaway shop, book shop and homeware shop, amongst others.

Location

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Location: Clarence House Dental Care, 78 High Street, Watton, Thetford, Norfolk, IP25 6AW

Harling Road (8.9 miles)

Attleborough (9.3 miles)

Eccles Road (9.3 miles)

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