Namco Funscape, 10 Barnard Road

Leisure Investment Opportunity with Redevelopment Potential

• Overview

  Leisure Investment Opportunity with Redevelopment Potential

• Property specification

  • Located in Norwich, the power house of East Anglia and the economic hub for Norfolk
  • Freehold site of 3.441 acres (28% site cover)
  • Let to the excellent covenant of Bandai Namco Amusement Europe Ltd (D&B 4A1)
  • Total GEA of c. 43,000 sq ft and VOA retail area of 34,314 sq ft
  • The property is let on a lease expiring 24th June 2027 providing approximately 1.5 years unexpired
  • Passing rent of £269,172 pa reflecting £6.26 psf
  • Excellent redevelopment potential for alternative uses including supermarket, nursery, gymnasium or industrial
  • Our client is seeking offers in excess of £2,500,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive NIY of 10.12%, assuming purchaser’s costs of 6.38%, and a capital value of £726k per acre.