About this property

Detailed Description

The property comprises a four-storey Grade II* Listed office on Redwell Street.

The ground floor and basement are let to Jackson-Stops Limited. The ground floor comprises a largely open-plan office with separate meeting room and WC to the rear. The basement is a 15th century undercroft separated into two parts, which provides additional storage.

The upper floors are let to Yawn Marketing Limited and are accessed via a separate entrance within the ground floor. The first floor is separated into two large workspaces, WC and kitchenette and has recently been refurbished. The second floor comprises a large, open-plan office area.

Location

The property is located on Redwell Street within Norwich City Centre.

Redwell Street is a short walk from both St Andrew's Car Park and Castle Meadow which is served by numerous bus routes. It is also just a 10 minute walk from Norwich Train Station.

Nearby occupiers include Purcell Architects, Reed Recruitment Agency, Norwich University of Arts, Wright's Café, William H Brown, Brewdog and Revolution de Cuba.

Accomodation

The property provides the following net internal floor area.

Description sq m sq ft
Ground floor 92.1 991
First floor 74.3 800
Second floor 55.8 600
Basement 52.3 563
Total NIA 274.5 2,954

Business Rates

Business rates will be the responsibility of the occupier. The premises has the following combined rates:-

Description Offices & premises
Rateable Value £26,900
Rates payable for 2023/2024 £13,423

Services

We have not carried out tests on any of the services or appliances and interested parties should arrange their own test to ensure these are in working order.

Viewing

Strictly by appointment with the sole selling agent:-

VAT

The property is elected for VAT and it is proposed the transaction be treated as a Transfer of a Going Concern. Further details on application.

Legal Costs

Each party will be responsible for their own legal costs incurred in documenting the sale.

Other

Price
The freehold is available to purchase and offers are invited in excess of £375,000, subject to and with the benefit the current tenancies. This reflects a net initial yield of circa 7.25% after allowing for purchaser's costs.

EPC Rating
The first & second floor have an EPC rating of E (101).
The ground floor & basement have an EPC rating of D (79).