Summary
- * Retail Investment Property Opportunity
- * Established & Iconic Banking Premises
- * Total rent of £405,000 per annum
- * A purchase at this level reflects an attractive new initial yield of 6.5%
Location
A direct train service connects Norwich with London Liverpool Street station with a travel time of 1 hour 47 mins. Norwich international airport is accessible within a drive time of less than 15 minutes.
Norwich also has direct access to Junction 9 of the M11 and onwards to the wider UK motorway network.
Gentleman’s walk is a pedestrianised pitch. This property is in a prominent location on Gentleman’s Walk with return frontage to Davey Place and the cut through of Old Post Office Court which links to Castle Mall Shopping Centre.
It is in the heart of the city centre opposite Market Place, home to the City’s open air market, one of the largest in the UK.
Norwich City Centre benefits from a regular bus service as well as an abundance of parking including multi-storey and surface car parks. There is also an excellent Park and Ride service.
Description
This property is a Grade II listed three storey building comprising of a largely double height banking hall with period features, a large basement storage area and two upper floors of offices.
It is currently let to Lloyds Bank Plc and serves as their regional head offices. Lloyds hold a 15 year lease on the property which started on 24th June 2011 and is due to expire on 23 June 2026. The property is subject to five yearly upward only rent reviews.
The property benefits from two lifts, one serving ground to first floor, the other serving all floors from basement to second floor.
Including the arranged over ground, basement & two upper floors it provides a total of 1,179.2 sq m (12,699 sg ft)
Price
Offers in excess of £6,250,000 (Six Million, Two Hundred and Fifty Thousand Pounds). Subject to contract & Exclusive of VAT
| Price: | £6,250,000 |
| Address: | 16 Gentleman's Walk |
| City: | Norwich |
| County: | Norfolk |
| Zip Code: | NR2 1LZ |
