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108 Norfolk St 3,213 SF 47% Leased Retail Building Wisbech PE13 2LD $396,058 ($123.27/SF) 10.39% Cap Rate
INVESTMENT HIGHLIGHTS
- Comprises end of Terrace Building internally arranged to provide Two Retail Units and Three Self-Contained Flats
- Prominent frontage
- Located within the heart of Wisbech, which is the third largest town in Cambridgeshire
EXECUTIVE SUMMARY
VAT is NOT applicable to this property
Comprises two retail shops at ground floor and three self-contained flats above
Located within the heart of Wisbech, which is the third largest town in Cambridgeshire
Property Description:
Comprises two ground floor shops and three self-contained flats, providing the following accommodation and dimensions:
Shop No. 108: 35 sq m (377 sq ft)
Open plan retail, Storage, WC
Takeaway No. 108a: 157 sq m (1,690 sq ft)
Open plan retail, Storage, WC
Flat 1 (108b): 43 sq m (463 sq ft)
Flat 2 (108b): 34 sq m (366 sq ft)
Flat 3 (108b): 24 sq m (258 sq ft)
Total Retail Area: 192 sq m (2,067 sq ft)
Total Residential Area: 101 sq m (1,087 sq ft)
Tenancy:
Shop No. 108 is at present let to CDS Labour (Group UK) Ltd for a term of 6 Years and 11 Months from 28th May 2024 at a current rent of £6,600 p.a. and the lease contains full repairing and insuring covenants. No breaks. Rent review on 28.05.2027 open market upward only. Deposit held of £1,100.
Shop No. 108a is at present let to Individuals for a term of 3 years from 1st August 2023 at a current rent of £6,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 1st August 2024 open market upward only. Deposit held of £1,000.
Flat 1 (No. 108b) is at present let on an AST to an Individual for a term of 12 months from 29th November 2023 at a current rent of £6,300 p.a. Deposit held of £525.
Flat 2 (No. 108b) is at present let on an AST to an Individual for a term of 12 Months from 10th August 2023 at a current rent of £5,760 p.a. Deposit held of £480.
Flat 3 (No. 108b) is at present let on an AST to an Individual for a term of 12 months from 31st May 2024 at a current rent of £6,000 p.a. Deposit held of £500.
Location:
Wisbech is the third largest town in Cambridgeshire, after Cambridge and St Neots. The property is situated on the west side of Norfolk Street, to the north of its junction with St Peter’s Road. Located within the heart of Wisbech, it benefits from easy access to a range of facilities.
PROPERTY FACTS
AMENITIES
- Storage Space
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Property Features: Comprises ground floor takeaway with full commercial kitchen and large basement VAT is NOT applicable to this property Available on a new lease with flexible terms Located within the heart of Wisbech, which is the third largest town in Cambridgeshire, with occupiers nearby including Post Office, JD Wetherspoon, Barber, Convenience Store and more. Property Description: Comprises ground floor takeaway shop with large basement, providing the following accommodation and dimensions: Ground Floor: 47 sq m (505 sq ft) Open plan retail, kitchen, storage Basement: 110 sq m (1,184 sq ft) Ancillary, storage, wc Total area size: 157 sq m (1,689 sq ft) Terms: Available on a new lease with terms to be agreed by negotiation Rent: £130 per week (PCM: £563.33) Deposit: £1,690 (3 Months) Rateable Value: Rateable Value - £5,700 p.a. Rates Payable - £0* *Note - Small business rates relief available (subject to terms) EPC: The property benefits from a D Rating. Certificate and further details available on request. Location: Wisbech is the third largest town in Cambridgeshire, after Cambridge and St Neots. The property is situated on the west side of Norfolk Street, to the north of its junction with St Peter’s Road. Located within the heart of Wisbech, it benefits from easy access to a range of facilities.
| Space | Size | Space Use | Position | Available |
| Ground | 1,689 SF | Retail | - | Now |
Ground
| Size |
| 1,689 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Ground
| Size | 1,689 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Property Features: Comprises ground floor takeaway with full commercial kitchen and large basement VAT is NOT applicable to this property Available on a new lease with flexible terms Located within the heart of Wisbech, which is the third largest town in Cambridgeshire, with occupiers nearby including Post Office, JD Wetherspoon, Barber, Convenience Store and more. Property Description: Comprises ground floor takeaway shop with large basement, providing the following accommodation and dimensions: Ground Floor: 47 sq m (505 sq ft) Open plan retail, kitchen, storage Basement: 110 sq m (1,184 sq ft) Ancillary, storage, wc Total area size: 157 sq m (1,689 sq ft) Terms: Available on a new lease with terms to be agreed by negotiation Rent: £130 per week (PCM: £563.33) Deposit: £1,690 (3 Months) Rateable Value: Rateable Value - £5,700 p.a. Rates Payable - £0* *Note - Small business rates relief available (subject to terms) EPC: The property benefits from a D Rating. Certificate and further details available on request. Location: Wisbech is the third largest town in Cambridgeshire, after Cambridge and St Neots. The property is situated on the west side of Norfolk Street, to the north of its junction with St Peter’s Road. Located within the heart of Wisbech, it benefits from easy access to a range of facilities.
NEARBY MAJOR RETAILERS
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108 Norfolk St
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