Commercial property
Investment for sale Multi Let 11 Storey Office Block : Norfolk Tower, 48-52 Surrey Street, Norwich

Summary

• Located in Norwich City
• Freehold, 11 storey, substantially refurbished office block
• Site of 0.61 acres
• 63,398 sq ft (5,890 sq m) together with 46 car parking spaces (1:1,378 sq ft)
• Extensively refurbished between 2010 and 2017 providing high quality, air-conditioned office accommodation
• Let to 9 office tenants plus 4 rooftop aerials producing an annual rent of £851,604 per annum
• Potential to increase income to £955,574 based on offices at £14.50 per sq ft
• Offers sought in the region of £9.39 million subject to contract and exclusive of VAT, which reflects a net initial yield of 8.50%, and a reversionary yield of 9.53% inclusive of purchaser's cost at 6.69%