3-5 Dove St 2,211 SF 68% Leased Retail Building Norwich NR2 1DE $350,230 ($158.40/SF)

The freehold is available to purchase subject to and with the benefit of the tenancy at a price of £260,000.
The property comprises two former period buildings, combined to create a single retail unit, with accommodation arranged over basement, ground and three upper floors. As currently configured, the building provides retail space at basement, ground and first floor level, with storage and staff amenity facilities at second and third floor levels. The property is Grade II Listed and has an extensive frontage to Dove Street.
The property occupies a prominent position on Dove Street, just off Guildhall Hill and Market Place, at the heart of Norwich’s historic city centre. Nearby occupiers include Leeds Building Society, TSB and a range of independent retail, café, restaurant and coffee shop operators. The location is set to be further enhanced through the revamp of Chamberlain House on Guildhall Hill, to convert the former Tesco Express into a new 91 room Travelodge.
Lease Terms & Tenant Covenant:
The property is occupied by People for Animal Care Trust (T/a PACT Animal Sanctuary), a registered charity No. 1154444 founded in 1995 with 32 shops operating over Cambridgeshire, Essex, Lincolnshire, Norfolk and Suffolk.
PACT have occupied the property since 2014 under a 10 year lease from 1st May 2014. The lease term has expired and the Tenant is currently holding over at a rent of £21,000 per annum exclusive, on full repairing and insuring terms subject to a Schedule of Condition.