Description
The property comprises a detached industrial unit of steel portal frame construction with offices on two levels at the front. It occupies a rectangular plot of approximately 0.48 acres which includes a fenced and gated front delivery yard, gravelled visitor parking area and extensive fenced and concreted yard/parking area to the side of approximately 0.185 acres.
The property has the following specification and features:
Location
The Livestock Market is located off Hall Road to the south of Norwich city centre, close to Ipswich Road, the outer ring road and the A47 Southern By-pass. It is a very well located estate with a mix of retail warehousing, motor trade, trade counter, industrial and distribution uses. With its proximity to the outer ring road and the A47, the estate is easily accessible from most locations in the Norwich area. Nearby occupiers include Porsche, B and Q, The Range, B and M, Calor Gas and Enterprise Car Rentals.
Accommodation Description
The property has the following approximate areas on a gross internal basis :
Ground Floor Warehouse and offices499.67 sq m 5,378 sq ft
First Floor Offices and kitchen 67.73 sq m 729 sq ft
Total GIA excluding Mezzanine 567.40 sq m 6,107 sq ft
MezzanineStorage301.15 sq m 3,242 sq ft
Total GIA including Mezzanine 868.55 sq m 9,349 sq ft
Terms
The property is offered by way of a new full repairing and insuring sub-lease for a term to be agreed at a rent of £65,000 pa exclusive of VAT.
Alternatively, a sale of the long leasehold interest will be considered. The leasehold interest has an unexpired term of over 55 years, until November 2079, at a current ground rent of £14,250 pa subject to 5 yearly reviews to 12.9% of rental value the building and 100% of the value of the side yard. Offers in the region of £425,000 are invited.
Rates
The Valuation Office Agency website indicates that as from April 2023 the Rateable Value is £32,750. This is not the annual rates payable.
The rates payable will depend on the occupier's circumstances and can be obtained from www.gov.uk/correct-your-business-rates which includes a rates payable calculator. ( Agency Pilot Software ref: 166889 )
