Norwich East Electric Forecourt, Maple Way, NORWICH

Unique Freehold Ground Lease Investment

Norfolk’s first bespoke electric vehicle charging station and GRIDSERVE’s second Electric Forecourt in the UK.

The GRIDSERVE Electric Forecourt offers an EV charging destination comprising of 36 chargers, alongside a high quality ancillary convenience and retail offerings. The facility is designed to maximise customers experience whilst charging their EV, with M&S Food, Costa and WHSmith situated at first floor level above the 22 ultrarapid covered charging points. The design of the first floor also provides areas to work in rentable office pods and lounging spaces to relax. The first floor is accessible via staircases and passenger lifts located at both ends of the building. Part of the floor area is dedicated to the display of and information of electric vehicles, which is serviced by an external vehicle lift.

Externally, the site is well landscaped with additional parking for non-charging customers and a picnic area. A supporting battery storage system is located at the west of the site providing essential capacity at peak charging times.

Features

INVESTMENT SUMMARY
Strategic location in North Norfolk at the intersection of the Broadland Northway and A47 Norwich Southern by pass.
Unrivalled position for EV charging, with high quality customer facilities.
Impressive facility within the highly successful Broadland Gate development, with adjoining occupiers including Lidl, McDonalds and Inchcape Jaguar Land Rover.
30 year ground lease from November 2020 (no breaks).
Current Passing rent of £159,124.99 pa.
Annual index linked rent reviews capped at 4% and collared at 2% with regular upwards only open market adjustments throughout the term.
Let to Norwich East Electric Forecourt Ltd who have a creditsafe rating of 68/100 and a “Low Risk” of business failure.
The tenant has made a multi-million pound investment developing the site, building out a market leading EV charging facility which will pave the way to further similar developments in the future.
Net-zero carbon emission building with an A+ EPC rating.
Strong ESG credentials.

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