PROMINENT NORWICH RETAIL PREMISES OFFERS MAJOR INVESTMENT OPPORTUNITY

A rare opportunity to invest in one of Norwich’s most prominent retail premises has arisen, with the bringing to market of Blackburn House on Theatre Street, currently occupied by Cotswold Outdoor.

Arnolds Keys is marketing the long term leasehold interest (with 86 years remaining) in the 9,302 sq ft building for offers in excess of £2.325 million, at which level the building offers an attractive net initial yield of 5.64 per cent.

The building, which once housed the Job Centre, is leased until 2030 to Trillium, on assignment from The Secretary of State for Work and Pensions, which in turn has sublet the property to Cotswold Outdoor.

“This is a rare opportunity to acquire a long term investment interest in one of the most prominent retail buildings in Norwich city centre,” said Guy Gowing, managing partner at Arnolds Keys.

“The property is uniquely positioned close to the main entrance of the Intu Chapelfield Shopping Centre, and is very close to many of the city’s big-name retailers such as Next, Top Shop, Debenhams and Marks & Spencer.

“It is unusual to find an investment opportunity which benefits from such a quality lease, which has more than 12 years still to run.  The building has retail space across three floors, as well as storage in the basement, and its situation means it has a very significant frontage compared to the floor area – making it an extremely attractive retail space.”

Further details of the investment opportunity at Blackburn House, Norwich can be found at www.arnoldskeys.com/commercial, or by contacting Guy Gowing at guy.gowing@arnodlskeys.com or on 01603 216804.