Great Yarmouth's Victoria Arcade to go under the hammer

Victoria Arcade, Yarmouth.Picture: Nick Butcher

Inside Victoria Arcade, which will be going under the hammer in May. - Credit: Nick Butcher

A retail precinct in the heart of Great Yarmouth will be going under the hammer in May.

Victoria Arcade in the town centre has been put on the market by Birmingham-based property consultants Siddall Jones with a guide price of £700,000. The property will be available at auction from May 17.

The arcade, which is close to Regent Road and the ongoing £4.7m Market Place revamp, contains 74 units - of which 28 are double units - and a thoroughfare with access from King Street and Howard Street South.

Siddall Jones says the property "comprises predominantly ground floor retail accommodation accessed via a glazed, covered walkway".

Victoria Arcade shopping centre in Great Yarmouth. Picture: David Hannant

FLASHBACK: Victoria Arcade in 2018. - Credit: Archant

The property consultants also say that the majority of Victoria Arcade is rented on short-term leases generating a gross annual rental of £141,860.

The arcade was last bought at auction for £800,00 in 2017.

The shopping area opened in the 1920s as the Central Arcade and was refurbished and renamed the Victoria Arcade in 1987.

To view the listing, visit www.underthehammer.com