Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Excellent central location
- Mixed investment limited
- Ground floor retail with an income of £26,000 per annum
- Planning consent for upper floors to be converted to 2 x studios & 1 x 1 bedroom flat
- Soles agent
The property is a mid-terrace three storey building, providing retail accommodation at ground floor level and with the residential accommodation on the two upper floors with a separate entrance from Market Street.
The established Hair Central salon provides an attractive addition to the Market Street streetscape, benefitting from a decorative shop frontage within a Grade 3 listed building (HE1730).
Internally, the salon has been re-fitted by the current tenant – operating as a hairdresser – to a high standard incorporating the usual shop fittings together with a variety of basins and customer points to service the business. The unit has an integral kitchen / staff area and w.c. located to the rear of the unit.
The upper floors of the property have been stripped back to a shell condition and has planning consent to create 2 x bedsits with shower rooms on the first floor, with an area for storage on the first floor landing and a 1 x bedroom flat on the second floor. The Planning Application reference is P/2020/0347.
Rooms
ACCOMMODATION
The Net Internal Area of the areas are approximate as follows:
Ground floor
Salon – 692 sqft 64.2sqm
First floor landing
Storage - 53 sqft ( 4.93 sqm )
First floor
Bedsit with shower room – 200 sqft (18.58 sqm)
Bedsit with shower room – 200 sqft (18.58 sqm )
Second floor
Living/kitchen, double bedroom, shower room – 365 sqft (33.9sqm)
TENURE
The ground floor is let to SRR Limited, t/a Hair Central with a nine year lease which extends to 28th June 2028 and with a rental received of £26,000 pa
The upper floors are currently vacant.
ASKING PRICE
The opportunity exists to acquire the freehold of 7, Market Street, subject to the above noted lease, for a consideration of £600,000 exclusive of GST as applicable.
LEGAL COSTS
Each party to bear their own legal costs and any other cost incurred in the sale of this property.
Property information from this agent
Places of interest
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