Net Initial Yield
• Norwich is an affluent and historic cathedral city and the retailing and administrative centre for East Anglia.
• The city benefits from a significant tourism industry, which is worth an estimated £750 million every year and supports in excess of 13,000 jobs.
• The property occupies a highly prominent position on the eastern side of Castle Street – one of the city’s primary pedestrianised retail thoroughfares.
• The property is let entirely to the undoubted covenant of Seasalt Limited at a rental of £120,000pa.
We are instructed to seek offers in excess of £1,260,000 (One Million Two Hundred and Sixty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 9% assuming standard purchaser costs.
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