Cosy Club 2 Retail Properties Offered at $3,650,121 in Norwich
INVESTMENT HIGHLIGHTS
- A stunning, Grade II listed building which dominates the junction at Bedford Street and St Andrews Hill.
- The building provides a grand foyer adorned with stunning period features, including high ceilings, ornate mouldings, and elegant chandeliers.
- The property is located on London Street which is the prime leisure pitch in Norwich city centre.
EXECUTIVE SUMMARY
The asset is entirely let on a FR&I lease to Loungers UK Limited expiring 10 December 2043 (21 years unexpired) at a current rent of £175,000 per annum. There is a break option on 11 December 2038 (15 years unexpired). The lease is subject to five yearly open market rent reviews. Part of the property (20 Bedford Street) is sub let to Sevenoaks Sound and Vision Limited until 2 August 2027. The area is marked blue on the site plan and extends 1,238 sq.ft.
PROPERTY FACTS
| Price | $3,650,121 |
| Price / SF | $378.41 / SF |
| Cap Rate | 6% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 9,646 SF |
| Total Land Area | 0.42 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 20 Bedford St, Norwich NR2 1AG | Retail | 1,238 SF | 1960 | - |
|
Cosy Club
45-51 London St, Norwich NR2 1HU |
Retail | 8,408 SF | 1925 | - |
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CONTACT
-
Steve Carrick -
Carrick Real Estate
