Freehold Specialist Care Investment Property

The property comprises a purpose built care home arranged as six self-contained buildings, consisting of four terraced buildings and two detached buildings. Arranged around a private cul-de-sac, the property currently provides 34 single bedroom suites, with a total floor area of approximately 1,449 sq. m. (15,592 sq. ft.) set upon a site area of 0.39 Ha (0.96 Acres). Located centrally within Thetford, the property sits less than half a mile east of the main town square and north of Castle Street, within a predominantly residential area in close proximity to the town's wider commercial and leisure amenities. The location offers good transport links, being situated approximately 11 miles north of Bury St Edmunds, 20 miles east of Ely, and 26 miles south-west of Norwich, with easy access to the A11, A134, and A1066 roads, as well as Thetford Railway Station and London Stansted Airport. The property is entirely let to the Royal Mencap Society on a lease until 2035 with no breaks, producing £203,697 per annum exclusive, subject to annual CPI-linked rent reviews (1% minimum and 4% maximum cap and collar) and a tenant option to renew for a further 20 years. The property also offers future residential development potential, subject to obtaining all necessary consents, and benefits from being a VAT-free investment.