Available
Great Yarmouth – Cake Shop & 3-Bed Flat
5/5A St Peters Road, Great Yarmouth, Norfolk NR30 3AUFreehold Retail & Residential Investment
Price
£225,000
Rent P.A.
£20,000
Yield
8.89%
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
14y 9m
Area
2,163 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Let until 2039. No breaks. Rent reviews linked to RPI every 5 years.
- Comprises ground floor retail shop with self-contained 3-bed flat at first and second floor
- Located opposite Londis, amongst a host of local traders including barbers, café and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop with self-contained 3-bedroom flat at first and second floor, providing the following accommodation and dimensions:
Ground Floor: 87 sq m (936 sq ft)
Open plan retail, kitchen, storage, wc
First & Second Floor: 114 sq m (1,227)
Kitchen, 4 rooms, bathroom/wc
Total GIA: 201 sq m (2,163 sq ft)
Ground Floor: 87 sq m (936 sq ft)
Open plan retail, kitchen, storage, wc
First & Second Floor: 114 sq m (1,227)
Kitchen, 4 rooms, bathroom/wc
Total GIA: 201 sq m (2,163 sq ft)
Tenancy Description
The entire property is at present let to Sakotis Tau Limited (with personal guarantee) for a term of 15 Years from 9th September 2024 at a current rent of £20,000 p.a. and the lease contains full repairing and insuring covenants. Rent review every 5th year linked to RPI. No breaks. Lease within Landlord & Tenant Act 1954. Deposit held of £5,000.
*Tenant benefits from 3 months rent free from start of the lease. The vendor will top-up rent so the buyer receives the equivalent to £20,000 p.a. from completion
*Tenant benefits from 3 months rent free from start of the lease. The vendor will top-up rent so the buyer receives the equivalent to £20,000 p.a. from completion
Tenancies & Accommodation
Location Description
Great Yarmouth is a popular coastal resort, located approx. 18 miles east of Norwich, 8 miles north of Lowestoft and benefits from good road links via the A47, A143 and the A12. The property is located at the junction with Dene Side opposite Londis and amongst a host of local traders and being close to the Town Centre and Sea Front.
