Mixed-Use Property Comprising 6,038 sq ft (561 sqm)

What it costs to own

The price is only part of it. Every auction house adds a buyer's fee, and you pay stamp duty and a solicitor. Net yield is the rent over all of it.

What it's likely to sell for

From what comparable lots actually sold for against their guide, in Cornerlot's results.

Energy rating

Savills hasn't published a rating for this lot. Ask for the certificate or check the legal pack: in England and Wales, a commercial property rated F or G can't be let without a registered exemption.

How it compares

History

• First listed on Cornerlot 11 Oct 2026.
• Listed before with Savills for 21 Oct 2026: Live, guide £360,000. See that listing

Savills' record

About the lot

Mixed-Use Freehold Investment Opportunity Property Comprises Two Let Retail Units With Two Vacant Office Floors ERV £56,500 per annum (14.13% GIY on Guide Price) Investment Let at £36,500 per annum. Freehold. Mixed-Use Property Comprising 6,038 sq ft (561 sqm). Two Retail Units Let to a Barber Shop and A Restaurant. Two Vacant Self Contained Office Floors. Instant Asset Management Potential Through Leasing Offices. Permitted Development Potential, Subject To Obtaining The Necessary Consents. Well-Located In The Centre of Norwich. VAT is applicable. ERV £56,500 per annum (14.48% GIY on Guide Price). Investment Let at £36,500 per annum. Comprises three-storey retail & office building. The ground floor provides two retail units fronting Prince of Wales Road t/a Barber Shop (No.18) and Restaurant (No.20). The first and second floor provides self-contained office accommodation. Each floor benefits from lift access and its own utilities, providing the following accommodation and dimensions: Ground Floor Shop No.18: 91 sq m (979 sq ft) Ground Floor Shop No.20: 110 sq m (1,185 sq ft) First Floor Office: 180 sq m (1,937 sq ft) Second Floor Office: 180 sq m (1,937 sq ft) Total GIA: 561 sq m (6,038 sq ft) Permitted development potential of the first and second floor, subject to obtaining the necessary consents. Tenancy: Shop No.18 is at present let to KH249 Ltd (with personal guarantee) for a term of 10 Years from 1st May 2026 at a current rent of £16,500 per annum and the lease contains full repairing and insuring covenants. Rent review every 3 years linked to RPI. Tenant option to determine on the 3rd and 6th anniversary with min 6 months notice. Deposit held of £4,000. Shop No.20 is at present let to KD Vada Pav Ltd (with personal guarantee) for a term of 10 Years from 19th March 2026 at a current rent of £20,000 per annum and the lease contains full repairing and insuring covenants. Rent review in the 5th year open market upward only. Tenant option to determine on the 5th anniversary with min 6 months notice. Deposit held of £5,000. The first and second floor offices are at present vacant. ERV: £20,000 p.a. Norwich city centre provides an extensive range of shops and amenities. Norwich Station is within walking distance, approximately 0.4 miles away from the property. The property is located on Prince of Wales Road, which is the main thoroughfare from the city centre and Tombland to the Riverside complex and train station. The area is a mixture of bars, offices, and residential accommodation and within easy walking distance to the main shopping areas of Chantry Place and Castle Quarter. Occupiers nearby include restaurant`s, estate agents, convenience store and many more.