Commercial property
Under Offer
114B Prince Of Wales Road, Norwich, Norfolk

Freehold / leasehold
2077 sq ft
Property > Commercial > Property Under Offer in Norwich
Summary
Prominent Offices
Description
The property was refurbished two years ago with the upper floors providing residential accommodation and the ground floor a self-contained unit now in use as an office.

The office has a large open plan ground floor with stairs to the rear leading to 3 smaller offices, the kitchen, WCs and a rear fire escape.

The specification includes:

- Suspended ceilings with recessed lighting
- Wood effect flooring throughout
- Air-conditioning
- Perimeter trunking

There is no parking provided with this lease.
Accommodation
The following net internal floor areas are provided:

Ground Floor 129.31 sq m (1,392 sq ft)
Rear Upper Floor 63.64 sq m (685 sq ft)
Total 192.95 sq m (2,077 sq ft)
Location
Prince of Wales Road is the main access to the City Centre from Norwich Railway station. The local area has benefitted from recent road improvement schemes. Close by is the Rose Lane multi-storey car park with some 600 spaces provided.
Terms / lease
The property is available on a long leasehold basis. The lease is 999-year lease which began 17th December 2018.

The ground rent is a peppercorn.

The service charge and insurance are understood to be circa £1,000 per annum.

The quoting price is £275,000 to purchase or £25,000 to rent per annum.
Rates
According to the Valuation Office Agency website the property previously had a Rateable Value of £26,500. The current owner split the assessment into three as follows:

£19,000 & £6,900 & £1,300. This totals £27,200.
VAT
The property has not been elected for VAT and so no VAT is payable on the purchase price.
Energy Performance Certificate
The property has an asset rating of 53, which falls within band C. A copy of the EPC is available upon request.
Uses
B1(a) Business - Offices
Done
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