17 Victoria Road, Diss, Norfolk, IP22 4HW

Commercial - Suffolk

01473 232 701

Town Centre Retail and Garage Investment

For Sale

Prominent town centre location.

Established tenant.

Scope for lease regearing and rental growth.

Location Diss is a busy market town situated in south Norfolk, close to the Suffolk border and with a population of approximately 7,600 people. The town’s railway station is on the Great Eastern Mainline connecting with the county town of Norwich to the north and London Liverpool Street to the south, with journey times of 22 minutes and 1 hour 26 minutes respectively. The A140 provides road connections with Norwich, 21 miles to the north. The A14 is within 17.5 miles to the south and provides excellent road communications with Cambridge, Bury St Edmunds, Ipswich and the national motorway network. The property occupies a prominent position on the A1066 (Victoria Road) in the centre of the town and as shown on the location plan on the back page. Other nearby occupiers include Morrisons, Tesco, Aldi, The Original Factory Shop, Jewsons, Ridgeons and various other national and independent businesses. Description The property comprises a detached showroom and forecourt, garage workshop with reception and first floor offices/stores and further workshop/store building arranged around a surfaced forecourt and yard. The property is shown edged red for identification purposes only on the site plan opposite and extends to approximately 0.261 hectares (0.64 acres). The showroom building is of steel portal frame construction with profile cladding to the roof, brick elevations, aluminium double glazed windows and bi-fold doors and sliding timber doors to the side. The premises are fitted with a suspended ceiling incorporating recessed lighting, tiled flooring, gas heating, partitioned office and WC’s. The garage workshop is of steel portal frame construction with brick/blockwork and profile sheet cladding to the elevations under a insulated profile sheet clad roof incorporating translucent panels to the main workshop area. The front of the building comprises a reception office with kitchen, shower and disabled WC. Stores are arranged immediately behind, together with a rest room and further WC. Ancillary offices and stores are provided at first floor level and this section of the building is served by gas heating, a mitsubishi air conditioning unit and fluorescent lighting. The adjoining workshop is served by a gas blower heater and fluorescent lighting and accessed via an up and over shutter door.

The detached workshop/stores building to the rear is of steel portal frame construction with brick/blockwork to the elevations, with profile sheet cladding to the upper parts and roof. The premises are served by a shutter door. The remainder of the site is laid out to display cars and provide parking. There is a raised shingle area for cabin display and a Premier Autogas cylinder and pump. Accommodation The property provides the following approximately gross internal floor areas and dimensions: (a) Showroom 226.17 sq m (2,434 sq ft) (b) Garage premises: Two storey section 196.65 sq m (2,117 sq ft) Main workshop 191.75 sq m (2,064 sq ft) (c) Rear workshop/store 127.08 sq m (1,368 sq ft) Total 741.65 sq m (7,983 sq ft) Services The property is understood to be connected to mains electricity, gas, water and drainage. It is understood that there are two decommissioned fuel tanks located under the forecourt. We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and the capacity of all those serving the property, including IT and telecommunications links. Business Rates The property is assessed as follows: Showroom Rateable Value £19,250 Rates Payable (2018/19) £9,240 per annum Main Garage Workshop Rateable Value £15,500 Rates Payable (2018/19) £7,440 per annum Rear Workshop/Store Rateable Value £5,100 Rates Payable (2018/19) £2,448 per annum

Details

Particulars for 17 Victoria Road, Diss, Norfolk IP22 4HW

Tenancy The property is subject to a lease for a term of 20 years from 19th July 2002 granted to Mr R A Gardiner. The lease is upon full repairing and insuring terms. The current rent is £33,280 per annum. The lease provided for rent reviews in July 2012 and July 2017 although these have not been implemented. The majority of the property is occupied by the tenant’s business Eco World (UK) Limited trading as RG Golfs.co.uk. The showroom was most recently sublet to a conservatories business although this is no longer in occupation and the head lessee is in the process of reletting the premises. The rear workshop is subject to an informal sub-tenancy. The investment is considered to have good potential for lease re-gearing and rental growth. Terms Offers are invited in the region of £595,000 for the freehold interest. The property is not VAT elected. Particulars Property details prepared in February 2019.

Energy Performance Certificates

Viewing Strictly by prior appointment with the sole agents: Fenn Wright 1 Buttermarket, Ipswich, IP1 1BA

01473 232 701 fennwright.co.uk Contact Alistair Mitchell

Particulars for 17 Victoria Road, Diss, Norfolk IP22 4HW

The Showroom Main Garage

SITE PLAN - NOT TO SCALE FOR IDENTIFICATION PURPOSES ONLY

Rear Workshop

For further information

01473 232 701 fennwright.co.uk Fenn Wright for themselves and for the vendors or lessors of this property whose agents they are give

notice that:

i. The particulars are set out as a general outline for the guidance of intending purchasers or lessees;

and do not constitute, nor constitute part of, an offer or contract.

ii. All descriptions, dimensions, references to condition and necessary permissions for use and

occupation, and other details are given in good faith and are believed to be correct but any

intending purchasers or lessees should not rely on them as statements or representations of fact

but must satisfy themselves by inspection or otherwise as to the correctness of each of them.

iii. The vendor or lessor does not make or give, and neither Fenn Wright nor any person in their

employment has the authority to make or give, any representation or warranty whatsoever in

relation to this property.

iv. All statements contained in these particulars as to this property are made without responsibility on

the part of Fenn Wright or the vendor/lessor.

v. All quoting terms may be subject to VAT at the prevailing rate from time to time.

vi. Fenn Wright have not tested any electrical items, appliances, any plumbing or heating systems and

therefore, cannot give any warranty or undertaking as regards their operation or efficiency.

Particulars for 17 Victoria Road, Diss, Norfolk IP22 4HW

LOCATION PLAN

Garage Showroom Reception