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Swan Yard, 68-74 King Street, Norwich, Norfolk, NR1 1PG

0.08 hectares, (0.2 acres)

Offers in the region of £1,495,000

A mixed commercial and residential investment comprising a range of historic buildings set around two courtyards in Norwich City Centre, comprising 7 residential and 10 commercial units.

The property is currently let to 12 tenants producing an annual income of £87,604 per annum exclusive.

Once the remaining vacant commercial units are let, the total rent will be £118,204 per annum exclusive.

Rents for the commercial elements vary from approximately £11.50 psf to £ 16.50 psf, and for the residential units from £675 - £900 pcm.

Asset management opportunities to further enhance the rental return and/or potential for a purchaser to sell individual units, with the investment value underpinned by the likely vacant possession sales values of the residential …

A mixed commercial and residential investment comprising a range of historic buildings set around two courtyards in Norwich City Centre, comprising 7 residential and 10 commercial units.

The property is currently let to 12 tenants producing an annual income of £87,604 per annum exclusive.

Once the remaining vacant commercial units are let, the total rent will be £118,204 per annum exclusive.

Rents for the commercial elements vary from approximately £11.50 psf to £ 16.50 psf, and for the residential units from £675 - £900 pcm.

Asset management opportunities to further enhance the rental return and/or potential for a purchaser to sell individual units, with the investment value underpinned by the likely vacant possession sales values of the residential accommodation.

Potential to convert 68c & 68f to residential use, subject to planning.

Available to purchasers as a whole with offers invited in the region of £1,495,000 subject to contract.

A purchase at this leve...

The property comprises a group of largely historic partly listed buildings in a rectangular site which provide two commercial units and a house on the street frontage, with further offices and studios on the upper floors, and with the rear buildings comprising a mixture of offices, studios and residential units around two courtyards.

The buildings are of a variety of ages with some being Victorian and others considerably older, and are a mixture of brick, flint and timber frame construction under pitched roofs covered in tiles and slates. The development has evolved over the last 30 years or so and provides an attractive commercial and residential complex.

Norwich is a vibrant and historic city with an urban population of 213,000 (2011 Census) and a retail catchment of approximately 1.1 million, Norwich has a student population of over 30,000 at the UEA, Norwich University of Arts and Norwich City College and is home to a number of major occupiers including Aviva, Unilever, Archant, Virgin Money and Briar Chemicals.

Norwich has a regular journey time by rail to London Liverpool Street, with a journey time of approximately 1 hour 40 mins.

The subject premises are situated on the west side of King Street, just south of its junction with Rose Lane, in a densely developed historic area of the city.

Surrounding properties include a mixture of shops, offices, churches and residential properties.

The premises are offered on a freehold basis subject to and with the benefit of the current tenancies.

It is understood that a disused pathway along the southern side of the site, between the buildings and the adjoining churchyard, is included in the freehold.

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You are enquiring about: Swan Yard, 68-74 King Street, Norwich, Norfolk, NR1 1PG Offers in the region of £1,495,000

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