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Our Summary
- The subject freehold investment is located on the High Street of Yarmouth, amongst a variety of independent traders, and presents a rare investment opportunity in the town, and is being sold subject to the existing tenancy in situ with the tenant’s interest unaffected by the sale
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Description
The property is a freehold commercial investment located on the High Street in Yarmouth, a vibrant and affluent harborside town. The building is a large commercial unit on the ground floor, currently used as a takeaway/restaurant facility, which is not currently fully utilized. The unit is fitted for a restaurant and has a large trading area.
The upper floors are owned separately on a ground leasehold arrangement as residential apartments. The commercial unit has a current lease for the balance of a 20-year term from 2015, with a passing rent of £12,000 per annum. The premises qualify for complete small business rates relief and have a rateable value of £11,500.