House For Sale £375,000
St Stephens Road, Norwich

For sale by online auction on 31st May 2023. Bidding window opens 30th May at 11am. Guide £375,000 - £395,000 plus fees. 

DESCRIPTION Commercial/Residential Investment Opportunity

This freehold attached property comprises an excellent investment opportunity for a number of different buyers looking to acquire property close to the centre of Norwich.

The freehold includes a 4 - office commercial premises, part of which has planning consent for change of use to 3 - bed residential (which would leave two offices remaining). In addition 21A, St Stephens Road is a leasehold commercial unit with ground floor reception and 3 first floor consulting rooms.

Ellendale House dates back to 1827 or thereabouts and is approached to the front with a pedestrian access leading through the front door. At present the entire property is laid out for commercial purposes but could be divided up if any buyer is keen to take advantage of the planning consent for change of use which relates to the rear portion of the property backing onto St Stephens Square.

No. 21A St Stephens Road is held on a long lease by St Stephens Practice (999 year lease at £50 per annum ground rent).

Buyers should note that the occupier of the first floor portion of this property has an obligation to contribute 33% towards the maintenance to the front of the building and 33% towards the upkeep of the front garden.

Copies of the 999 year lease, together with all other matters relating to the premises to include plans, planning matters, gas safety certificates etc., are available upon request.

It should be noted that the change of use for conversion of the back portion to residential was granted back in February 2021 and that this expires in February 2024.

The whole will be of great interest to buyers keen to derive an income from commercial premises, whilst either converting the back portion or continuing the commercial use for the whole property.

SERVICES
Mains water, electricity, gas, drainage connected to the property. 

LOCATION Situated within walking distance of the centre of Norwich with all its local shopping, transport facilities, cultural amenities and close to Newmarket Road with easy access to the inner and outer ring roads.  

DIRECTIONS Best approached from the centre of Norwich or via the inner ring road. At the roundabout at the top of St Stephens take the exit into St Stephens Road and the property will be seen on the right-hand side. 

VIEWING Please call us for viewing arrangements.