Lot 108 - COMMERCIAL INVESTMENT WITH POTENTIAL

Sold £155,000

Currently part let at £12,000 per annum

This commercial premises situated in the seaside resort town on the East Norfolk coast, approximately 20 miles to the east of Norwich and north of Lowestoft, is situated in the heart of the town centre.

The ground floor shop premises has an established tenant since 2009 and the upper parts, formerly a solicitor's office may offer potential for re-letting or conversion to residential, subject to all the necessary consents being obtainable.

167 King Street

Ground Floor

Main shop front sales area, storeroom, kitchenette, two cloakrooms/W.C.s and storage cupboard. There are doors opening to hardstanding/parking at the rear.

167 King Street (Upper Parts)

Ground Floor

Entrance door with stairs leading to:

First Floor

Landing, reception area, three office rooms, inner hallway, kitchenette and two cloakrooms/W.C.s.

Outside

There is parking for multiple vehicles to the rear of the premises off Howard Street South.

Tenancy

The ground floor shop is currently let to the Salvation Army on a commercial lease due to expire in July 2023 at a current rent payable of £12,000 per annum. The upper parts are currently being utilised by the ground floor tenant as additional storage space by way of a licence agreement, but will be vacated by the end of January 2022.

Planning

The upper parts had Planning Permission granted, now lapsed, by Great Yarmouth Borough Council, under reference: 06/16/0378/F, dated 24th May 2016 for Change of Use of first floor office to one residential flat, subject to conditions.

Local Planning Authority

Great Yarmouth Borough Council. Website: great-yarmouth.gov.uk Tel: 01493 856100.

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/