A commercial property located at 95 Upper St Giles Street is set to be auctioned later this month. The property is currently occupied by Pebbles, a small family-run beautician business that offers services such as sunbeds and spray tans. The shop generates an annual rent of £10,000 and includes a reception area, a main salon, a toilet and storage area, and a treatment room in the basement. Additionally, the business has signed a 12-year lease in August 2019, after occupying the shop since 2007.
The property will be featured as lot 28 at Auction House East Anglia on December 13th at 11am, with a guide price of £120,000 to £130,000. Interested buyers will have the opportunity to bid on the property during the auction. This presents an opportunity for investors looking to acquire a commercial property with an existing tenant and a steady rental income. The property’s location in a popular street in Norwich also adds to its appeal and potential value as a long-term investment.
Potential buyers should consider the stability of the tenant’s business and the long-term lease agreement in place. The property’s current rent income should also be carefully evaluated in relation to the auction guide price. It is also important for potential buyers to inspect the property and consider any necessary renovations or improvements. Overall, the property at 95 Upper St Giles Street presents a valuable investment opportunity with an established tenant and an existing income stream. Interested investors should carefully consider this opportunity and be prepared to participate in the auction.
