About this property

Detailed Description

**For sale by online auction on 24th November 2026. Guide £80,000-£100,000 plus fees. **

An excellent opportunity to acquire an income producing long leasehold commercial investment. The property comprises a ground floor lockup retail unit within Noverre House, a 5 storey mixed use building on Theatre Street, a busy road in Norwich city Centre. The property benefits from a large window frontage and open-plan salon space where there are four chairs and customer seating area, door to the side store leading to WC.

Tenure
There is a lease of 125 years from 1st November 1995, circa 94 years remaining, with peppercorn ground rent.
The unit is currently let to Mr Hashim T/a Brothers Barbers on a 10 year lease from March 2021 with no breaks and five yearly rent reviews, producing circa £10,800 P/A. The occupational lease has provision for the rent to be reviewed to market rent in 2026, providing opportunity for rental growth.
For further information and a copy of the relevant lease and tenancy agreements please refer to the legal pack.

Solicitors: Birketts LLP (Attn Jasmine Roberts) Providence House, 141-145 Princes Street, Ipswich, IP1 1QJ. Tel 01473 921781.

Location:
Conveniently located in the heart of the city, with excellent transport links extremely close by not to mention the number of well known amenities at the door step such as The Assembly House, Norwich Theatre Royal & The Forum to name a few.

Directions:
what3words: ///paid.famous.every

Buyer Fees: Please note that the successful bidder will be required to pay an Administration Charge of £1,500 inclusive of VAT. This fee is due and payable from the winning bidder immediately after the timed auction ends. The successful bidder will additionally pay over to the auctioneer a deposit of 10% of the purchase price, subject to a minimum of £5,000, after the timed auction ends. All payments to be made by debit card payment or electronic bank transfer to the Brown&Co Client Account, the details of which will be provided by the auctioneer to the successful bidder shortly after the auction ends. Other fees may be payable on completion and will be detailed within the Special Conditions of Sale to be found within the published Auction Pack.

Ability to Buy: This property is being sold under Unconditional Auction Rules creating a legally binding contract at the conclusion of the timed auction. DO NOT bid unless you can complete the sale within 28 days, or on the terms specified within the Special Conditions of Sale.

If you REQUIRE A MORTGAGE for this purchase, we strongly recommend that you receive your mortgage offer before you bid. An Agreement in Principle (AIP) is not enough due to the fact that if you are the successful bidder and wait to secure funding after the auction and if your lender will not lend on the property (for whatever reason) and you fail to complete, you will lose your deposit and any associated costs.

Help and Assistance: If you have any questions or require any clarification as to the online auction process please contact the auctioneer prior to commencement of the bidding window as we will be unable to enter into any discussions once the auction has started.

Bidding Process: Prior to bidding the bidder will complete a Passport-to-Bid process, which requires registration, verification and agreement to Buyers Terms.

How To Follow the Auction: Use 'Watch' button to follow the auction. If you register to Watch an auction you will receive email notifications of any bidding activity on the specific lot.

How It Works: Unconditional Timed Auction Online: This is a binding method of sale similar to a traditional public property auction. The only difference is the bidding takes place online. The successful purchaser will be required to pay a 10% deposit (subject to a minimum payment of £5,000) on the fall of the virtual gavel and contracts will be exchanged. Bidding for properties online works in a similar fashion to eBay. You can place bids using your PC, tablet or mobile phone and the minimum amount you can bid is defined by the 'bid increment' level. When you place a bid, the property listing page will show you if your bid was successful and whether or not you are the highest bidder. When you are the highest bidder on a property, if another bidder outbids you the system will notify you by email so that you can place another bid if you wish. The major difference from eBay is that our system eradicates sudden death 'bid sniping' through the use of auction 'extension times'. If you have any questions or require any clarification please contact the auctioneer.

Agents Notes: (1) All measurements are approximate and quoted for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied upon. (2) Any fixtures, fittings and appliances referred within these published details have not been tested and therefore no guarantee can be given that they are in working order. (3) Internal photographs are reproduced for general information and it is not inferred that any item shown within any picture is included with the property. (4) Photographs shown within these details may have been taken with a camera using a wide-angle lens. (5) These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (6) In accordance with UK Anti Money Laundering Regulations Intending buyers will be asked to produce original Identity Documentation, Proof of Address and be subjected to an electronic ID verification check before a purchase conveyance is instructed. (7) Brown&Co comply with the General Data Protection Regulation (EU) 2016/679 ("GDPR") please visit our website www.brown-co.com for our Privacy Statement, Subject Access Requests can be submitted to dataprotectionmanager@brown-co.com . (8) Brown&Co are regulated under the RICS code of conduct. (9) Brown&Co are a member of The Property Redress Scheme, Membership Number: PRS012758 https://www.theprs.co.uk/ (10) Brown&Co is a member of RICS Client Money Protection Scheme, RICS Firm Reference: 016189 (11) Brown&Co-Property And Business Consultants LLP trading as Brown&Co Registered Company Number OC302092. (11) Registered Office Address - The Atrium, St George's Street, Norwich, Norfolk, NR3 1AB

Business Rates

The property may benefit from Small Business Rates Relief which may reduce the rates payable. Please contact the agents for more information.