Summary - LE-22602 - Bar & Beyond, 24/26 Prince of Wales Road, Norwich NR1 1LG NR1 1LG
1 bed 1 bath Bar / Nightclub
### Standout Features:
- Expansive 19,657 SQ FT freehold property, successfully operating as Bar & Beyond.
- Prime location on Norwich's late-night circuit.
- Predominantly three-storey terrace with large floor-to-ceiling windows and balcony views over the Cathedral.
- Additional outdoor courtyard space with seating and a separate bar servery.
- 19 years remaining on the lease with a passing rent of £165,000 per annum, providing a notable income stream.
### Potential Downsides:
- High crime rate in the local area may be a concern for potential investors.
- Pending refurbishment needed for the adjoining two-storey building, which is currently not in use.
- Mortgage lenders may hesitate due to the lengthy remaining term on the lease, impacting financing options.
Bar & Beyond offers a rare opportunity for savvy investors to acquire a significant freehold property in the bustling Norwich town centre. The bar's substantial size and vibrant location position it as a premier nightlife destination, complete with a charming outdoor courtyard and stunning views of local landmarks. Despite the pending refurbishment of part of the premises and the crime rate concerns, the 19 years left on the lease and solid annual rental income present a compelling case for investment or future redevelopment. With an attractive listing rate of £99/SQ FT and a NIY of 7.96%, this property is poised for future growth. Don’t miss your chance to own a piece of Norwich's thriving nightlife—this opportunity won’t last long!
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