Property for sale

Valuable mixed-use freehold investment in town centre with potential for asset management

Location / Situation: The proeprty is situated on the east side of Teme Street, close to its junction with Market Street, Teme Street is in the town's main commercial thoroughfare and a range of national and independent retailers are present including, Tesco, Spar (encorporating the Post Office) and the town's social and leisure facilities including, doctors, dental surguries, theatre and library

No.10 Teme Street: GROUND FLOOR
(TA Teme Valley Carpets)
with steps off Teme Street and side doors off yard
Front-Showroom 27'4" x 11'1" (8.33m x 3.38m)
Rear-Showroom 3'6" x 10'6" (9.60m x 2.69m)
Stores
WC's (Male/Female)
Kitchen 17'4" x 8'10"

FLAT1
A duplex flat arranged over first and second floors and accessed via an external staircase.
Accommodation comprises of:
FIRST FLOOR
Lobby
Kitchen 18'11" x 8'2" (5.76m x 2.48m)
Lounge 14'6" x 9'5" (4.42m x 2.86m)
Bathroom 7'11" x 6'5" (2.42m x 1.96m)

SECOND FLOOR
Bathroom
Bedroom 1 13'9" x 9'9" (4.2m x 2.98m)
Bedroom 2 19'4" x 8'4" (5.89m x 2.53m)
Box Room 1 18'0" x 5'9" (2.45m x 1.74m)
Access to roof of hall
FLAT 2
first floor in return 2 storey wing accessed via external staircase. Accommodation comprises of:
Lobby
Sitting Room
Kitchen
Bathroom
Bedroom




Description: The property is accessed via a shared courtyard and comprises of a three storey Victorian building with two-storey return wing. Retail use is sited on the ground floor with two residential apartments and a small office on the upper floors

Office Suite: Accessed off external stair

OUTSIDE: Access to the property is via a full height vehicular door shared with the front and rear of No. 12 Teme Street. The yard ownership is split with No.12 and there are mutual rights of way etc. which prevent parking. The yard is covered, in part, by a steel framed building covered with corrugated sheets

Tenure: The property is available freehold
(subject to the following tenancies)
Ground Floor Shop
Subject to a 10 year lease from 1.7.2018, current rent passing £6,475 (plus £300 insurance rent) pa

Flat 1 AST £450pcm (£5,400 pa)
Flat 2 AST £380pcm (£4,560 pa)
Office Suite £1,500pa on informal tenancy afreement

Planning: The property is situated in the town's Central Conservation Area. The property has been used as a carpet shop, restaurant and general store in recent years. It was for many years, the town bakery

Directions: 10 Teme Street is situated on the east side of Teme Street and is within 50m of its junction with Market Street