Tilia Business Park, Horning Road , Hoveton, Norwich, Norfolk, NR12

Description

The Business Park comprises a number of separate units, with distinct construction
and uses. The accommodation consists of:

Potato Store - this is a steel portal frame warehouse facility which is used specifically
for potato storage. It has insulated plastic coated cladding to the elevations and is
divided into 4 separate warehousing units. Former Cold Stores - there are 3 separate
buildings which are of brick construction below a felt flat roof.

Boat Building Warehouse - this is the most modern premises on the site and is of steel
portal frame with insulated plastic-coated cladding to the roof and elevations. It is used
for yacht construction. Adjacent to it is a brick and pantile roof office.

Car Park and Additional Development Land - to the south of the main accommodation,
is a car park, of approximately 0.6 acres with an additional area of 1.26 acres for future development.

THE TOTAL SITE AREA IS 9.2 ACRES (3.73 HA).

Location

Hoveton is located within the Norfolk Broads National Park, being approximately 9 miles northeast of Norwich city centre and 3.7 miles from the A1270 (Broadland Northway). Norwich is the regional capital of East Anglia and Norfolk's Administrative Commercial & Cultural Centre. Hoveton and Wroxham are recognised as the centre of the Broads, a key tourist destination within East Anglia. Norwich is home to an estimated 117,000 jobs and 8,000 companies with key sectors being business and administrative services, advance manufacturing and creative and digital industries. Hoveton and Wroxham are recognised for tourism as well as boat building.

Tilia Business is located to the north of Hoveton/Wroxham town centre, in close proximity to Roys department store and the main line station to Norwich. The area has mixed uses with residential development to the north and east, with further commercial uses to the south and farmland to the west beyond the main rail line and the narrow gauge Bure Valley Railway.


Accommodation Description

Multi let warehouse and manufacturing facility totalling 98,310 sq ft (9132.40 sq m), along with 1.25 acres of development land and a bungalow.

Total site area of 9.214 acres (3.73 ha).


Terms

The business (Tilia Business Park Ltd/Tilia JAC Ltd) is to be sold as a going concern by way of a share sale in the limited company with freehold titles to the properties and free of any debt.

Offers sought at £5,120,000 which provides a net initial return of 9%, with an allowance of 2.5% for purchasers costs and £220,000 for the development land.

We understand that the property has been elected for VAT.


Reversionary rental income.

Long term redevelopment potential.

Holding company to be sold, with low stamp duty.