Virtual Freehold vacant unit in a town centre location
The property comprises an open plan retail area and office on the ground floor and further offices and stores over the mezzanine, first floor and basement
It has planning consent for A1 and A2 uses
The total area of 3,806 sq.ft. is made up as follows:
Ground floor banking hall / retail area: 1,038 sq ft
Ground floor offices: 387 sq ft
Basement stores: 1,195 sq ft
Mezzanine offices & stores: 345 sq ft
First floor officess & stores: 841 sq ft
Location Description
Great Yarmouth is one of the largest coastal towns in the UK and is the county town of Norfolk. The resident population is 32,670 people, while 83,389 live within a 6 mile radius and 205,622 live within 12 miles.
Tourism is the largest contributing sector and accounts for nearly 30% of the district’s employment. Additionally the town undertakes many port activities including the servicing of offshore oil rigs and those specialising in natural gas extraction.
The town is situated 11 miles north of Lowestoft, 19 miles east of Norwich, 54 miles north east of Ipswich and 133 miles north east of London.
Nearby major roads include the A149 with the A1243, A12, A143 and A47 running through and into parts of the town.
Norwich Airport is located 22 miles to the west via the A47.
The property stands over Market Place, a prime pitch within the town centre on the western side of the pedestrianised section of King Street.
Prime shopping in Great Yarmouth is focused on the pedestrianised sections of King Street and Market Place as well as the Market Gate Shopping Centre.
The centre is anchored by Debenhams and Wilkinson and was extended to 230,000 sq. ft. of retail space in 2008. Other nearby occupiers include Nationwide, Greggs, WH Smith, Marks & Spencer, Superdrug, River Island, HSBC, Lloyds and Barclays Bank.
There is also a market that occurs 6 days a week in Market Place which draws additional shoppers to the town centre.
Additional Notes
The property is held on a 900 year lease from 25th March 1859 at a peppercorn rent
We understand the property was let to Betfred from mid-2015 on a 15 year lease with 5 year breaks.