Norwich is an affluent and attractive cathedral city that draws on a large catchment, substantially enhanced by a year round tourist influx. White Lion Street is a prime retail street with Castle Quarter's main entrance immediately opposite. Income of £115,000 pax. anticipated to rise to £147,500 pax. once 17 White Lion Street is let. Residential redevelopment opportunity. Holland & Barrett covenant securing majority of income. 1,600 stores in 18 countries across the word and Europe's largest health and wellness retailer with an Equifax C+ grade. Please see attached brochure details for additional information.
Norwich is a renowned cathedral city with a catchment population of over 800,000 persons. The city benefits from excellent communication links to London (A11/M11) and the Midlands (A14).
Norwich has twice hourly direct train links to London (1 hour 50 minutes) and an
International Airport.
The city boasts two universities, University of East Anglia and Norwich University of the Arts, is a UNESCO City of Literature, forms part of the Cambridge Norwich, Tech Corridor and has its own Research Park.
Norwich is frequently cited as one of the most desirable cities to live in the UK as a result of its safe and historic environment, affordable housing and access to jobs.
It is surrounded by the coast and the Norfolk Broads National Park. Norfolk has a total of 32 million tourist trips that benefit the economy by £2.34 billion and over 50,000 jobs.
Currently the property has the following energy performance assessment ratings:
17a White Lion Street E (113)
17 White Lion Street C (67)
19-21 White Lion Street B (41)
17A WHITE LION STREET - FIRE IZAKAYA:
Ground Floor Entrance - -
First Floor Cafe 975 sq ft 90.6 sq m
First Floor Office/Store 40 sq ft 3.7 sq m
Total 1,015 sq ft 94.3 sq m
17 WHITE LION STREET - VACANT:
Ground Floor Sales 778 sq ft 72.3 sq m
First Floor Sales 1,626 sq ft 151.1 sq m
Second Floor Ancillary 1,038 sq ft 96.4 sq m
19-21 WHITE LION STREET - HOLLAND & BARRETT:
Ground Floor Sales 2,404 sq ft 223.3 sq ft
Total Floor Area 6,861 sq ft 637.4 sq
Proposal: Offers of £1.15 million subject to contract and exclusive of VAT are invited reflecting a net initial yield of 9.44% rising to 12.11% once fully let.
Investment summary
Norwich is an affluent and attractive cathedral city that draws on a large catchment, substantially enhanced by a year round tourist influx.
White Lion Street is a prime retail street with Castle Quarter's main entrance immediately opposite.
Income of £115,000 pax. anticipated to rise to £147,500 pax. once 17 White Lion
Street is let.
Residential redevelopment opportunity.
Holland & Barrett covenant securing majority of income. 1,600 stores in 18 countries across the word and Europe's largest health and wellness retailer with an Equifax C+ grade.
The Valuation Office Agency website indicates that as from April 2023 the Rateable Value are as follows:
17a White Lion Street - £11,750
17 White Lion Street - £33,500
19-21 White Lion Street - £61,000
Each party is to be responsible for their own legal costs incurred in the transaction.
Strictly by appointment through the sole agents.
News — May 2024
Roche has been instructed to seek offers for £3.95 million for a prime freehold city centre property.
News — May 2024
Roche was engaged to carry out a comprehensive Building Survey to evaluate the condition of a Grade I Listed former yarn mill.
News — March 2024
Roche has secured a new occupier at Broadland Business Park in Norwich.
News — March 2024
On behalf of TCNUK, Roche Retail is delighted to announce the letting of 8 St Benedicts Street, Norwich, to Rural Hair & Co.
News — February 2024
Roche has completed the sale of large former factory premises in North Walsham.
News — February 2024
Roche Retail, acting jointly with BWD, has completed the sale of 69 London Street, Norwich, on behalf of The Co-operative Bank.
News — February 2024
Roche Retail is pleased to announce the letting of two units at the Britten Shopping Centre in Lowestoft.
News — February 2024
Roche has completed the letting of grade A office space in Norwich to the NHS.
News — February 2024
Roche has just secured Søstrene Grene as a tenant for premises at 15 -17 London Street.
News — February 2024
Halo Accident Repair Centre has moved into new premises north of Norwich, following a letting by Roche.
Roche has been instructed to seek offers for £3.95 million for a prime freehold city centre property.
Situated at 48/72 St Stephens Street, the subject property is on a highly prominent gateway location and sits on a key junction with the inner ring road.
The area is surrounded by student accommodation and in close proximity to some of Norwich’s most desirable housing.
St Stephens Street is Norwich’s high street and appeals to numerous retailers as well as benefiting from being the city’s primary bus route.
The property is within close proximity to Chantry Place shopping centre, two multi-storey car parks (NCP, St Stephens Street (264 spaces) and Chantry Place (1000 spaces)), Norwich bus station and large retailers such as Marks & Spencer, Superdrug, WHSmith and Iceland.
Formerly the Co-Op Department Store, the property spans 112,618sq ft (10,463 sq m) which has been divided into two retail stores – the former Poundland store and Wilkinsons.
Adrian Fennell, partner at Roche, comments: “This property provides significant potential and is situated in a prime location. Norwich is an affluent city, and this presents the perfect redevelopment opportunity for interested parties to capitalise on.”
Roche was engaged to carry out a comprehensive Building Survey to evaluate the condition of a Grade I Listed former yarn mill including the building fabric and any legal or regulatory issues facing the property.
Upon receiving instructions, the property was surveyed within two weeks and the findings were reported on within four weeks.
Located on Whitefriars in Norwich, the historical building was originally constructed as a yarn mill. Over its lifetime, it has been used for a variety of purposes and currently provides office accommodation over ground and five upper floors offering circa 28,000 sq. ft. of office and conferencing space.
A detailed survey report was provided to ensure the client is fully aware of the condition of the property and the challenges facing it over the coming years. All recommendations were accompanied by cost estimates, giving the client an extensive overview of the condition of the property, any works required to rectify issues and plan for the future being fully informed.
David Hall, Partner overseeing building surveying, commented: “It was fantastic to be involved in such a historically significant property and to be able to advise the client on the best strategies for its future preservation.”
David Hall, Partner at Roche
Roche has secured a new occupier at Broadland Business Park in Norwich.
Veincentre, whose Norwich clinic is currently in Surrey Street, are to take a 1,200 sq ft lease in the prestigious Lakeside 500 office building, with the new facility on target to open in May. The company is the UK’s largest vein treatment provider and treats varicose veins, thread veins, leg ulcers and thread veins on the face at 33 clinics around the country.
Roche is sole agent for Broadland Business Park, which offers both Grade A offices and prime development land for industrial and logistics uses. Veincentre’s tenancy is hot on the heels of four recent lettings on the Park to NatWest Bank, Barratt David Wilson Homes, Mott MacDonald and Optima Health and Optima Health.
“It is very heartening to be able to report exceptional interest in Broadland Business Park over recent months, with Veincentre being the latest new occupier to make the move to Broadland. Interest in the offices as well the industrial and logistics plots has been growing and remains strong across the whole of the Park.”
James Allen, Partner at Roche
On behalf of TCNUK, Roche Retail is delighted to announce the letting of 8 St Benedicts Street, Norwich, to Rural Hair & Co. Situated in the heart of the Norwich Lanes district, the property occupies a prime position amongst a number of well-established retailers and restaurants.
“This is an exciting new addition to St Benedicts Street which remains a vibrant and popular part of the city. I wish Rural Hair & Co all the very best with this new venture and expansion into the city.”
Ben Common, Surveyor at Roche
Roche has completed the sale of large former factory premises in North Walsham.
Robertson House is located in a prominent position at the entrance to the town’s principle industrial estate. The 3.71 acre site is currently occupied by 41,592 sq ft of buildings comprising workshop and warehouse accommodation with a two-storey office, forecourt parking and a rear yard. Also at the rear is large area of undeveloped land.
The new owners are planning convert and develop the site to create a number of smaller units as a new industrial business park.
“We are delighted to complete this sale. Large freehold sites such as this are rare and highly sought-after, and the location of Robertson House at the entrance to North Walsham’s main industrial area also made it a very attractive and cost-effective proposition for both developers and potential occupiers.”
Graham Jones, Partner at Roche
Roche Retail, acting jointly with BWD, has completed the sale of 69 London Street, Norwich, on behalf of The Co-operative Bank.
“After significant levels of interest in the premises, it was an excellent result to have agreed a sale significantly in excess of the asking price of £335,000 on behalf of our client. The sale demonstrates that city centre high street property remains very much in demand, and I look forward to seeing what is next in store for this historic building.”
Ben Common, Surveyor at Roche
Roche Retail is pleased to announce the letting of two units at the Britten Shopping Centre in Lowestoft.
The international outdoor clothing retailer Trespass has taken occupation of unit 7, which comprises 2,481 sq ft, whilst unit 10B has been let to a local beauty salon.
“These new lettings underpin the continued demand for space within the centre. Both of these businesses bring exciting new offerings to the scheme which is a key part of Lowestoft’s vibrant town centre and retail offer.”
Ben Common, Surveyor at Roche
Roche has completed the letting of grade A office space in Norwich to the NHS.
The 9,127 sq ft premises on Meridian Business Park in Norwich have been taken by the NHS on a 10-year lease. The office space has been repurposed for clinical uses, with Roche completing the letting on behalf of Dencora Investments.
“Repurposing the offices for NHS further enhances Meridian’s position as a successful business park. It is a popular employment location, which has strong access routes due to its proximity to the Southern Bypass and Northern Distributor Road.”
Sam Kingston, Surveyor at Roche
A contemporary Scandinavian retailer is set to open a new store in Norwich this Spring. Roche has just secured Søstrene Grene as a tenant for premises at 15 -17 London Street.
Established in Denmark in 1973, Søstrene Grene is a home retailer, selling furniture, interior decor, kitchenware, party supplies, stationery and toys. While it has 15 stores across the UK, the closest one to Norfolk is currently in London.
Roche has let the London Street unit, principally arranged over a 5,612 sq ft ground floor, on a 10-year lease. The premises occupy a prominent corner location and have an extensive frontage, adjacent to Jarrold’s Department Store, making them an attractive proposition for retailers.
“We are delighted to secure this letting for Søstrene Grene to move into the popular London Street shopping area. The location is within one of Norwich’s principal retail thoroughfares which link the professional business district, the Cathedral and railway station to the city centre. This will be the retailer’s first store in the region and we are pleased to have found them ideal premises here in Norwich.”
Adrian Fennell, partner at Roche
Francis Darrah acted jointly on the letting and Hynes Illingworth advised Søstrene Grene.
Halo Accident Repair Centre has moved into new premises north of Norwich, following a letting by Roche.
The 8,082 sq ft warehouse is located on Ramirez Road within Rackheath Industrial Estate. Acting on behalf of Tilia Properties, Roche has let the premises to Halo on a 10-year lease with five year break.
“We are delighted to welcome Halo Accident Repair to Ramirez Road. The premises are well suited to Halo and this letting brings a new occupier to the popular Rackheath Industrial Estate which also widens the tenant mix.”
Sam Kingston, Surveyor at Roche
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