54 London St 1,264 SF Retail Building Norwich NR2 1LA $409,389 ($323.88/SF) 8% Cap Rate

Offers are invited in excess of £300,000 (Three Hundred Thousand Pounds) for the freehold of the property. A purchase at this level will reflect a net initial yield of approximately 8% after buyer’s costs.
54 London Street presents an opportunity to acquire a freehold retail investment in a prominent corner position within Norwich city centre. The property occupies a highly visible location at the junction of London Street and Opie Street, opposite The Cosy Club and Prestons Jewellers, within a busy pedestrianised retail environment connecting Norwich Cathedral and the traditional business quarter to the city's prime shopping area.
The building provides accommodation across ground, first, second and third floors and is fully let to Bryar Khadir trading as Mister Grooming Room. The tenant occupies the property on a full repairing and insuring lease for a term of 15 years commencing 17 April 2019 and expiring 16 April 2034. The current passing rent is £25,000 per annum exclusive, with a final upward-only rent review due from 17 April 2029.
Norwich is an established regional centre serving East Anglia, benefiting from a substantial catchment population, a large student population, and strong transport connections. The city continues to attract retail, leisure, and tourism activity, supporting occupier demand.