Property photos
Sold STC
Auction
Freehold
Guide price
£450,000
Office for sale
Prospect House, 28 Great Melton Road, Hethersett, Norwich, Norfolk NR9Local area information
Property location
Nearby amenities
- Hethersett VC Junior School 0.3 miles
- Hethersett Academy 0.3 miles
- Wymondham 3.5 miles
- Norwich 5.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Freehold
For sale by auction on Wednesday, 11 Sep 2024 at 11:00
Venue: Livestream Auction
Great investment opportunity to acquire one of three commercial units available within busy location in the desirable village of Hethersett. Prospect House offers two retail units with two offices above and allocated car parking spaces. Three units are let on long term leases with one office on the first floor currently vacant.
Prospect House is situated on Oak Square in the heart of the desirable village of Hethersett on the outskirts of Norwich City. Formerly the village Post Office was housed in the rear retail unit, now the barbers and foot fall in this bustling village is good.
The building has been in the same ownership for 25 years and this is a rare opportunity for such a strong ready made investment to come to market.
Prospect House
The building offers two retail units on the ground floor, one leased to a well-established estate agency, the other to Hethersett Barbers, which is just about to commence business. Above are two offices, one is vacant the other is leased to a firm of solicitors. The building has recently installed fully certificated fire system and electrical certificates and is in good well-maintained order throughout.
Income
The current annual income is £51,000 pa and leasing the office currently vacant would increase the yield further to £63,000 pa.
Current Leases
Hammond Stratford - Commenced 11th July 2022 expires 10th July 2032, get out 2025 rent review every 3 years. £1,540 pcm
Hethersett Barbers - 10 year lease - 3 year review and 5 year get out clause £1,650 pcm
Soliictors - Lease expires 30th April 2027, £1,060 pcm
Ground Floor
Hammond Stratford - Main office, managers office, kitchen and cloakroom.
Entrance hall to offices
Hethersett Barbers - Salon, shower room, staff room, treatment room
Second Floor
Landing
Solicitors - two large interconnecting offices, shared kitchen and cloakroom with vacant office
Vacant - two interconnecting offices, separate office, kitchen and cloakroom
Exterior
Tarmac marked parking bays are provided outside the building
Note
This is one of 3 commercial buildings on Oak Square, Hethersett being offered for sale and the entire site can be purchased as a whole if parties are interested. Please discuss this with us prior to auction.
Viewings
Viewings are being held by arrangement and the next opportunities to view will be on:
Thursday 5th September
Monday 9th September
Please contact the Norwich Office to book your appointment time.
EPC Rating: C
Additional Fees
Buyers Premium: £960 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Venue: Livestream Auction
Great investment opportunity to acquire one of three commercial units available within busy location in the desirable village of Hethersett. Prospect House offers two retail units with two offices above and allocated car parking spaces. Three units are let on long term leases with one office on the first floor currently vacant.
Prospect House is situated on Oak Square in the heart of the desirable village of Hethersett on the outskirts of Norwich City. Formerly the village Post Office was housed in the rear retail unit, now the barbers and foot fall in this bustling village is good.
The building has been in the same ownership for 25 years and this is a rare opportunity for such a strong ready made investment to come to market.
Prospect House
The building offers two retail units on the ground floor, one leased to a well-established estate agency, the other to Hethersett Barbers, which is just about to commence business. Above are two offices, one is vacant the other is leased to a firm of solicitors. The building has recently installed fully certificated fire system and electrical certificates and is in good well-maintained order throughout.
Income
The current annual income is £51,000 pa and leasing the office currently vacant would increase the yield further to £63,000 pa.
Current Leases
Hammond Stratford - Commenced 11th July 2022 expires 10th July 2032, get out 2025 rent review every 3 years. £1,540 pcm
Hethersett Barbers - 10 year lease - 3 year review and 5 year get out clause £1,650 pcm
Soliictors - Lease expires 30th April 2027, £1,060 pcm
Ground Floor
Hammond Stratford - Main office, managers office, kitchen and cloakroom.
Entrance hall to offices
Hethersett Barbers - Salon, shower room, staff room, treatment room
Second Floor
Landing
Solicitors - two large interconnecting offices, shared kitchen and cloakroom with vacant office
Vacant - two interconnecting offices, separate office, kitchen and cloakroom
Exterior
Tarmac marked parking bays are provided outside the building
Note
This is one of 3 commercial buildings on Oak Square, Hethersett being offered for sale and the entire site can be purchased as a whole if parties are interested. Please discuss this with us prior to auction.
Viewings
Viewings are being held by arrangement and the next opportunities to view will be on:
Thursday 5th September
Monday 9th September
Please contact the Norwich Office to book your appointment time.
EPC Rating: C
Additional Fees
Buyers Premium: £960 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Floor plans and tours
Floor plans (2)
More information
Listed by
Auction House East Anglia
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