SummaryCity centre offices with parking
DescriptionThe building provides self-contained office accommodation set over ground and first floors. There are two rooms on the ground floor and a further two on the first floor. In addition, there is a single WC on the ground floor and a kitchen and WC to the first floor. There is a shop window and entrance onto Rose Lane. To the rear are two parking spaces and a rear entrance.
The property has an electric powered central heating system with wall mounted radiators throughout.
AccommodationThe property provides a net internal floor area of:
Ground Floor - 310 sq ft
First Floor - 324 sq ft
Total - 634 sq ft (59 sq m)
Location42 Rose Lane is a mid terrace office located on the north side of Rose Lane. The office is ideally located within easy walking distance of both Norwich Railway Station and the City centre.
Terms / leaseThe property is let to DX Network Services Ltd on a full repair and insuring lease for 10 years from 8th March 2020 at an annual rent of £10,000 per annum. The lease is outside of the security of tenure provisions of the L&T 1954.
The tenants have a 5th year option to break the lease. There is also a 5th year upwards only rent review to open market.
The freehold interest in the property is available, subject to the existing lease above, for sale at £185,000 exclusive, which reflect a net initial yield of 5.35%.
Energy Performance CertificateThe rating is E with an asset rating of 112.
B1(a) Business - Offices