Summary - Penfold Street, Aylsham, Norwich, Norfolk, NR11 NR11 6ET
2 bed 1 bath Office
Fully fitted retail/office with immediate income — short lease requires buyer caution.
Prime town-centre Penfold Street location with consistent footfall
A compact, well-located commercial investment on Penfold Street in Aylsham, currently let to a healthcare recruitment business producing an immediate income. The tenant has fully fitted the space to a high standard and the unit benefits from strong town-centre footfall, good visibility and regular local trade. An upwards-only rent review is scheduled for May 2027, offering scope for rental growth within the lease term.
The property is offered leasehold with a 5-year lease from May 2024 (four years remaining). That short lease length is the material drawback: mortgage lenders commonly refuse lending on short-lease commercial interests, and this will limit some buyer groups. The tenure and limited lease term should be fully considered before purchase.
At the stated price the income produces a strong gross yield (c.8.3% based on current rent), making it an appealing purchase for cash buyers or investors able to accept leasehold risk. The town-centre location, tenant fit-out and established covenant support steady, low-management ownership, while potential capital uplift exists if the lease is extended or renegotiated in the future.
Buyers should note local area indicators: the wider area is classified as an ageing, self-sufficient retirement community with pockets of deprivation. Practical checks should include lender acceptability for the remaining lease term, confirmation of services and fixtures, and full verification of tenant covenant and lease obligations.
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