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Lot 36

6 Week completion

SITUATION

Located in this prime pedestrianised City centre position, opposite the Royal Arcade which links with Gentlemans Walk and Haymarket, and amongst such multiples as Jamie's Italian, Bill's Restaurant, O2, Cath Kidston, Primark, Greggs, Tiger and many others as well as being close to the entrance of the Castle Mall Shopping Centre.
Norwich is an attractive City and vibrant commercial centre which lies some 19 miles west of Great Yarmouth and 45 miles north of Ipswich with road links via the A11 and M11.

PROPERTY

A mid terrace building (locally listed) comprising a Ground Floor Shop and Basement plus internal access to Ancillary Accommodation on the first and second floors.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 19'8”
Internal Width 17'8” (max)
Shop Depth 22'0”
Built Depth 26'5”

Basement
Not Inspected (Trap Door access)

First Floor Storage (incl. 1 WC)
Area Approx 405 sq ft

Second Floor Storage (plus 1 WC)
Area Approx 320 sq ft

VAT is applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to L'Occitane Ltd (International Beauty Products) (having approx. 90 branches) (T/O for Y/E 31/03/15 £54.2m, Pre-Tax Profit £409,000 and Shareholders' Funds £3.075m) for a term of 10 years from 2nd April 2007 (see Note) at a current rent of £45,000 per annum exclusive.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

11 Back of The Inns, Norwich, Norfolk NR2 1PT