Tue, 14 Sep 2021 | COMMERCIAL PROPERTY
The Royal Arcade shopping centre In Norwich is up for sale with a guide price of £1.25 million. The covered shopping arcade, prominently located in Norwich’s pedestrianised city centre, has been owned by Legal & General for 12 years.
The property is being brought to market by property auctioneer Acuitus on a freehold basis. The 30,000 sq ft centre contains 20 retail units across the ground floor, five of which are currently vacant. The property’s first and second floors are also vacant, having previously been home to a restaurant.
The Royal Arcade is grade II listed and is located in close proximity to Norwich Castle, Norwich Market, the city’s Castle Mall Shopping Centre and car park, as well as the main city centre bus stops. There are three entrances to the centre – on Gentleman’s Walk, Castle Street and White Lion Street – and an electrical substation on site.
The property was designed by celebrated Norfolk architect George Skipper, who also designed other prominent buildings in Norwich, such as the Jarrold department store and Surrey House.
According to Acuitus, the property offers significant asset management opportunities and could benefit from redevelopment in future for a range of uses, subject to necessary consents.
Acuitus is set to bring the property to market in a livestreamed auction on Friday, September 24.
One of the best ways to find properties below market price is to look at recent administrations.
The company produces and supplies a wide range of coffee products created using ethically sourced beans from South America. The core products comprise wholebeans, grounds, single-origin roasts, blends, cold brews and compostable pods.
LEASEHOLD
The company offers an extensive range of luxury cars, including vehicles from prestigious manufacturers such as Aston Martin, Ferrari, Lamborghini and Rolls Royce. The business operates with a unique showroom-free approach, utilising a dedicated onli...
FREEHOLD
The company offers the sale of fashion jewellery, lingerie, and sexual health products and toys, pyjamas, gym clothing, beachwear, and PPE. Priding itself on its high-quality products and exceptional customer service, the company offers its produc...
LEASEHOLD
03
|
Feb
|
Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE
Manchester-based social media and influencer marketing agenc...
03
|
Feb
|
Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY
Stonegate Group, the UK’s largest pub company, is repo...
02
|
Feb
|
Babble hits 12 acquisitions in a year with double takeover | BUSINESS SALE
London-based cloud technology firm Babble has continued its ...
Sign up to receive our acquisition alert emails to get your FREE guide
26
|
Oct
|
Legal & General sells personal investing business to Fidelity | BUSINESS SALE
Legal & General Group has agreed the sale of its personal in...
30
|
Apr
|
Allianz announces home insurance deal with L&G | DIVISION SALE
Allianz has revealed that they're holding "exclusive ta...
23
|
Feb
|
Skandia House for sale | COMMERCIAL PROPERTY
A landmark office building in Southampton has gone up for sa...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources