The property consists of a Ground Floor and basement unit with total area of 3,514 sq ft.
Location Description
Norwich is the main retail centre for East Anglia and has a primary catchment population of circa 900,000 people
The property is situated in a prime corner position on the eastern side of Red Lion Street, immediately opposite the junction with Orford place leading onto Haymarket.
Nearby leisure operators include Five Guys and Bella Italia while retailer Debenhams sits immediately opposite. We have been informed that the Norwich store has been marked as a Category A store for the Debenhams CVA process and is is a key asset for the business moving forward.
The micro location is set to benefit further from the vast Primark development nearby. A modern flagship store is currently under construction which will have new frontage to White Lion Street, around 50m from the property.
Additional Notes
Let to the undoubted covenant of Nando’s Chickenland Ltd for 25 years from 2002.
Current passing rent of £125,000 with 5 yearly open market rent reviews, next review due in Dec 2022.
Nandos Chickenland Ltd is one of the UK’s top leisure covenants with a turnover of £650m & net worth of £175m (5A1 covenant strength).