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43 Middleton Crescent, Norwich, Norfolk, NR5 0PX
Guide Price* : £90,000 plus
Retail Investment
Upon Instructions of
Joint LPA Receivers
- Freehold
- Retail Investment
- Producing £11,400 Per Annum
- Approximately 4 Years Remaining Unexpired
Description
The property comprises a ground‑floor retail unit within a two‑storey building, currently operating as a hairdressing and beauty salon. The ground floor extends to approximately 66.20 sq m (714 sq ft) NIA.
The residential accommodation is situated on the upper floors, which have been sold off on long leasehold interests.
Location
The property is located on Middleton Crescent in Costessey, a residential suburb positioned to the west of Norwich with access to major local and regional transport routes. Costessey connects directly to the A47, the primary east–west route skirting the southern side of Norwich, providing links toward King’s Lynn to the west and onward connectivity to the A11 and A140 for routes south toward Thetford, Cambridge, and Ipswich.
Middleton Crescent benefits from good access to Norwich's wider road network, enabling straightforward travel into Norwich city centre, which lies a short distance to the east. The area forms part of an established suburban corridor close to key destinations such as the University of East Anglia and the Norfolk and Norwich University Hospital, both of which are easily reached via local distributor roads feeding from the A47.
Local public transport links are available, offering routes into Norwich and surrounding districts, while regional rail services are accessible from Norwich Station, located approximately 4.2 miles from Costessey.
Tenure
The property is held freehold under Title Number NK306536. The upper floors have been sold off on a long leasehold basis.
Tenancy
The property is let on a six year lease from 14 December 2023 at £10,800 per annum to with rent payable monthly and a review at year three, and no break options.
The Leaseholder is contracted to pay a Ground Rent of £600 per annum to the Freeholder.
Therefore, the total income received by the freeholder is £11,400 per annum.
Planning Authority
South Norfolk Council - www.southnorfolkandbroadland.gov.uk
Bidder Registration
Registration for bidding will close at 2:00 pm the day before the auction, after which we cannot guarantee giving you permission to bid at the auction.
VAT
Refer to the legal documentation
Energy Performance Certificate
C:54
Note
The Auctioneer has not inspected internally and the information has been provided by the Vendor.
Contact
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.
** If you take up this service, Dynamo may pay a referral payment of up to 20% of the procuration fee received by Dynamo from the relevant lender on completion of the mortgage to us. This is not paid by you and has no impact on the service provided. Dynamo is a trading name of Dynamo Mortgages Limited, which is part of the same group of companies as Lambert Smith Hampton, owned by Connells Limited.
If you take up this service you will agree your own separate contract with Dynamo, and Lambert Smith Hampton is not responsible for the accuracy, quality or suitability of any advice, recommendations or services provided to you.
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Legal Documents
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Additional Documents
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Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including LSH Property Auctions, and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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