Pirate Studios, 15 Bessemer Road, Norwich | Property for sale | Savills
Guide price £340,000(21,598,545 EGP)

Pirate Studios15 Bessemer Road, Norwich

  • New
  • Sole agency
  • Freehold
Investment
Yield 13%Yield

Key features

  • To be offered on Tuesday 29 October
  • Entirely let to Pirate Studios Properties Ltd lease expiring in 2034 no breaks
  • RPI linked rent review every 5th 1% & 4% cap and collar next September 2029
  • Investment let at £44,561 pa (13.11% on Guide Price)
  • Freehold Industrial Recording Studio Investment
  • 15 year lease from September 2019
  • Comprises approximately 386 sq m (4,155 sq ft)

Freehold Industrial Recording Studio Investment Investment let at £44,561 pa (13.11% on Guide Price) with RPI linked 5 yearly rent reviews

About this property

  • The property comprises a substantial ground floor industrial unit arranged as recording studios. The tenant has fitted out the building as Recording, DJ, Band and Podcast Studios. Tenancy Let to Pirate Studios Properties Limited on a 15 year FRI lease from 05.09.2019 expiring 04.09.2034. The lease provides for a rent review every 5th year to RPI (1% & 4% cap and collar) at a rent of £44,561 pa. Please note the current rent passing is £30,000 pa however the vendor will top up the completion monies so that the property effectively produces £44,561 pa from completion of the sale until the increase rent gets implemented.

Local information

  • The Property is located on the south side of Norwich, in a predominantly industrial area. The property is located on the east side of Bessemer Road, with nearby occupiers including Asda, The Gym Group and Toolstation.