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    Key features

    • Freehold
    • Mixed-Use Property Comprising 6,038 sq ft (561 sqm)
    • Two Retail Units Let to a Barber Shop and A Restaurant
    • Two Vacant Self Contained Office Floors
    • Instant Asset Management Potential Through Leasing Offices
    • Permitted Development Potential, Subject To Obtaining The Necessary Consents
    • Well-Located In The Centre of Norwich
    • VAT is applicable
    • ERV £56,500 per annum (14.13% GIY on Guide Price)
    • Investment Let at £36,500 per annum

    Description

    Comprises three-storey retail & office building. The ground floor provides two retail units fronting Prince of Wales Road t/a Barber Shop (No.18) and Restaurant (No.20). The first and second floor provides self-contained office accommodation. Each floor benefits from lift access and its own utilities, providing the following accommodation and dimensions:

    Ground Floor Shop No.18: 91 sq m (979 sq ft)

    Ground Floor Shop No.20: 110 sq m (1,185 sq ft) First Floor Office: 180 sq m (1,937 sq ft) Second Floor Office: 180 sq m (1,937 sq ft)

    Total GIA: 561 sq m (6,038 sq ft)

    Permitted development potential of the first and second floor, subject to obtaining the necessary consents.

    Additional information

    Accommodation

    Ground Floor Retail - 2,164 sq ft (201.04 sqm)

    First Floor Office - 1,937 (179.95 sqm)

    Second Floor Office - 1,937 sq ft (179.95 sqm)

    Total - 6,038 sq ft ( 560.95 sqm)

    Tenancy

    Shop No.18 is at present let to KH249 Ltd (with personal guarantee) for a term of 10 Years from 1st May 2026 at a current rent of £16,500 per annum and the lease contains full repairing and insuring covenants. Rent review every 3 years linked to RPI. Tenant option to determine on the 3rd and 6th anniversary with min 6 months notice. Deposit held of £4,000.


    Shop No.20 is at present let to KD Vada Pav Ltd (with personal guarantee) for a term of 10 Years from 19th March 2026 at a current rent of £20,000 per annum and the lease contains full repairing and insuring covenants. Rent review in the 5th year open market upward only. Tenant option to determine on the 5th anniversary with min 6 months notice. Deposit held of £5,000.


    The first and second floor offices are at present vacant. ERV: £20,000 p.a.

    Rent

    £36,500 per annum

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.


    Please refer to the legal pack. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      Norwich city centre provides an extensive range of shops and amenities. Norwich Station is within walking distance, approximately 0.4 miles away from the property. The property is located on Prince of Wales Road, which is the main thoroughfare from the city centre and Tombland to the Riverside complex and train station. The area is a mixture of bars, offices, and residential accommodation and within easy walking distance to the main shopping areas of Chantry Place and Castle Quarter. Occupiers nearby include restaurant`s, estate agents, convenience store and many more.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •Some properties might be open to offers prior to auction. Exchange will take place, subject to contract and no higher offers, on auction terms and as per the legal pack. Please contact the auctioneer with your best and final offer, their details can be found on each lot page.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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