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.
An ideal opportunity for an energetic, hands on operator who can build upon the reputation the business has within the area which has been gained over many years. Whilst profitable under the current ownership there is still genuine growth potential f...
LEASEHOLD
Utilises years of experience in the e-commerce sector to provide retailers with cost-effective and reliable processes to manage their international sales returns.
RELOCATABLE
This well established and highly respected business/brand has been trading successfully for some 7 years and specialises in the online supply of clothing and household items to the whole of the UK. The sales are online retail with the majority sold t...
RELOCATABLE
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