Commercial property Sold
Freehold Multi Let Office Investment : 69-75 Thorpe Road, Norwich
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Summary
Multi let office investment located on the main arterial route into Norwich, 1 mile to the east of the city centre
Provides a three storey office of 25,326 sq ft (2,352.75 sq m) plus 82 car spaces
Attractive car parking ratio of 1:308 sq ft
Substantially refurbished since 2002 providing good quality air-conditioned offices with flexible accommodation on each floor in a range of suites from 653 sq ft to 5,442 sq ft
Let to 6 tenants providing a total income of £301,447 per annum (£11.90 per sq ft overall)
AWULT of 5.12 years, and 2.53 years to break
Medium term potential for residential conversion and extension (subject to obtaining the necessary statutory consents)
Offers sought in excess of £3,200,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 8.85% assuming standard purchaser’s costs of 6.47%
Gallery
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