45-51 London St
Norwich NR2 1HU
 Cosy Club · Retail Property For Sale · 9,646 SF Total

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 / SF $384.38 / 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
Cosy Club
45-51 London St, Norwich NR2 1HU 		Retail 8,408 SF 1925 -
20 Bedford St, Norwich NR2 1AG Retail 1,238 SF 1960 -
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