Victoria Arcade, Howard Street South, GREAT YARMOUTH, Norfolk, NR30 2NU

ANNOUNCEMENT:
The Sellers have supplied an updated rent schedule that differs to the schedule in our details. The Auctioneers have been unable to verify the accuracy of the schedule provided. Prospective purchasers must rely solely on their own enquires in this respect.
The property is sold subject to any occupational tenancies of the Property and any tenants in situ as at the date of this Contract.


Substantial freehold multi let shopping arcade currently arranged as 35 units of varying sizes
Investment .

Location:
The building is situated within the centre of Great Yarmouthn and accesses onto King Street, Regent Street and Howard Street South. The building benefits from high volumes of passing pedestrian traffic with other nearby retailers including Subway and Clarks. Public transport links include Great Yarmouth mainline rail station together a network of local bus services serving the surrounding vicinity. Road links include the A47 and A143. Recreational pursuits can be found locally at the open spaces of St Georges Park and along the coast front.

Description:
Substantial freehold multi let shopping arcade believed to be constructed in 1925 in an art deco style. Entrances to the arcade are via King Street, Regent Street and a secondary access from Howard Street South. The shopping arcade is currently arranged as 35 units of varying sizes.

Tenancies:
The following information has been provided by the sellers - refer to legal documents for up to date information and rents

Unit 1-2
Lease Start: 15/07/21, Lease End: 15/07/25
Rent: £600.00 pcm

Unit 3-6
Lease Start: 15/03/22, Lease End: 15/03/24
£600.00 pcm

Unit 7-8
Lease Start: 15/10/21, Lease End: 15/10/24
Rent: £500.00 pcm

Unit 9-10
Lease start: 03/09/21, Lease end: 03/09/23
Rent: £425.00 pcm

Unit 11-12
VACANT

Unit 13-14
Lease start: 15/07/22, Lease end: 15/07/24
Rent: £500.00 pcm

Unit 15-16
Lease start: 15/03/22, Lease end: 15/03/24
Rent: £500.00 pcm

Unit 17-18
VACANT

Unit 19-20
VACANT

Unit 21-22
Lease start: 15/02/21, Lease end: 15/02/23
Rent: £375.00 pcm

Unit 23
Lease start: 15/07/21, lease end: 15/07/23
Rent: £300.00 pcm

Unit 24
Lease start: 29/02/20, Lease end: 29/02/23
Rent: £200.00 pcm

Unit 25-26
VACANT

Unit 27-28
VACANT

Unit 29-30
Lease start: 15/07/22, Lease end: 15/07/24
Rent: £500.00 pcm

Unit 31-32
Lease start: 15/08/21, Lease end 15/08/23
Rent: £625.00 pcm

Unit 33-34
VACANT

Unit 35-36
VACANT

Unit 37-38
VACANT

Unit 39-40
Lease start: 15/02/22, Lease end: 15/02/24
Rent: £350.00 pcm

Unit 41-42
Lease start: 15/04/22, Lease end: 15/04/24
Rent: £500.00 pcm

Unit 43-44
Lease start: 03/09/21, lease end: 03/09/23
Rent: £425.00 pcm

Unit 45-48
VACANT

Unit 49-52
Lease start: 15/03/21, Lease end: 15/03/23
Rent: £475.00 pcm

Unit 53-54
VACANT

Unit 55-56
Lease start: 01/07/22, Lease end: 01/07/24
Rent: £550.00 pcm

Unit 57-58
VACANT

Unit 59-60
VACANT

Unit 61-62
VACANT

Unit 63-64
VACANT

Unit 65-66
VACANT

Unit 67-70
VACANT

Unit 71-72
Lease start: 15/02/22, Lease end: 15/02/24
Rent: £550.00 pcm
Unit 73
VACANT

Unit 74
Lease start: 15/07/21, Lease end: 15/07/23
Rent: £250.00 pcm

Subway: £250.00 pcm Service Charges

CEX: £250.00 pcm Service Charges

Nick (Rear office) - £75.00 pcm Rent

Town Pharmacy (one parking space) - £160.00 per annum

NHS Property Services (parking spaces) - £3,750 per quarter.

Plus three vacant parking spaces

EPC rating:
Refer to - https://www.gov.uk/find-energy-certificate

Rent Reserved:
Approximately £120,760 per annum – together with a number of vacant units - refer to legal documents for up to date information and rents

Potential:
The property may be suitable for further development and part conversion into residential subject to planning permission and consents. Prospective purchasers must rely on their own enquires in this respect.

To view:
By application to the shops within trading hours.



Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.


1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.