Property for sale
Property description & features
- FREEHOLD COMMERCIAL INVESTMENT FOR SALE
- GROUND FLOOR SALES AREA AND BASEMENT STORES/KITCHEN
- CURRENT RENTAL INCOME £60,000 PA
- UPPER FLOORS CONVERTED TO RESIDENTIAL USE ON A 999 YEAR LEASE AT A PEPPERCORN RENT
- PROMINENT LOCATION ON THE HIGH STREET
- GRADE II LISTED
FREEHOLD COMMERCIAL INVESTMENT FOR SALE
A Grade II listed property with a lock up shop on the ground floor and basement, with a separate entrance from the High Street to the upper floors which have been recently converted to two residential flats. For sale freehold
ACCOMMODATION
The accommodation comprises:
Frontage 22’9” (6.93 sq.m)
Internal width 21’3” (6.48m)
Max width 27’3” (8.30m)
Sales area 1,826 sq.ft (169.6 sq.m)
Basement stores/kitchen 440 sq.ft (40.8 sq.m)
Separate WC -
Please note :Every effort has been made to ensure that the above floor areas are accurate. They are in accordance with the Code of Measuring Practice. Fittings restricted measurement at the time of inspection. Interested parties should verify these for themselves.
TENURE
Freehold, subject to a 999 year lease on the upper floors and subject to a separate commercial lease on the ground floor and basement.
GROUND FLOOR & BASEMENT
The ground floor and basement is let to Artique Galleries Limited on a 10 year lease from 6th October 2021 on full repairing and insuring terms at a rent of £60,000 per annum, with an upward only rent review after 5 years. There is a tenant’s only break clause at the end of year 5, giving 6 months prior notice.
UPPER FLOORS
The upper floors have been converted to residential use and are let on a 999 year lease from 11th October 2019 at a peppercorn rent without review. The lease is effectively a full repairing and insuring lease.
PRICE
Offers in the region of £700,000 are invited for the freehold interest, subject to the two tenancies.
RATEABLE VALUE
Ground floor/basement: £53,000 from 1st April 2023.
Please Note : We believe that for certain tenants that there may be no liability to pay rates, however this office gives no warranty that the rating values supplied and the sums of money expressed as being payable are accurate and the purchaser/tenant must rely upon their own enquiries with the Local Authority on[use Contact Agent Button] or
LEGAL COSTS
The purchaser will be responsible for both side’s legal costs in this matter.
VAT
The landlords elect to charge VAT.
EPC
Shop: Band D
Flat 1: Band C
Flat 2: Band C
VIEWING
Strictly by appointment with the Agents.
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Property reference -UCRYY2y21o. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Tim Cox Associates - Commercial Sales.
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Broadband availability and predicted speed
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Mobile phone signal availability and predicted strength
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Energy Performance data and Internal floor area
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