No longer on the market
This property is no longer on the market
MapCommercial development
Features and description
- Investment opportunity
- Shop & flat investment
- Main road frontage opposite Garrison
- New lease to Ladbrokes Betting & Gaming Limited
- Price £235,000
Shop & flat investment
Main road frontage opposite Garrison
New lease to Ladbrokes Betting & Gaming Limited
Price £235,000
The property comprises a two-storey mid-terraced building of partially rendered brick construction under a pitched and flat roof.
The ground floor shop benefits from a modern, double glazed shop front. Internally, it is fitted out to a high standard as a bookmakers, with laminate flooring, plastered walls and suspended ceiling with recessed lighting and air conditioning. To the rear of the shop is an office/staff room as well as both staff and customer toilets.
The first floor flat is independently accessed from the front of the building and provides two bedroom accommodation. It benefits from double glazing and wall mounted electric heaters, but could benefit from some upgrading.
Rooms
Accommodation
The ground floor shop extends to a net internal area of 174.94 sq m (1,883 sq ft) – source VOA Website
The first floor flat provides the following accommodation:
Hallway leading to:
Lounge/diner
Bedroom 1
Bedroom 2
Bathroom
Kitchen
Utility room
Services
Terms
TENURE
The property is held on a freehold basis.
TENANCIES
The ground floor is let to Ladbrokes Betting & Gaming Limited by way of a lease from 1 July 2023 to 30 June 2028 at a rent of £18,000 per annum. There is an option for the tenant to break the lease on 30 June 2026.
The tenant is responsible for all internal repair and to contribute towards landlord’s costs in maintaining the exterior of the building and obtaining building insurance.
We understand Ladbrokes Betting & Gaming Limited was established 60 years ago and as at 2022, had a net worth of £1 billion.
The first floor flat is currently vacant.
Our client’s freehold interest in the whole of the property, including the shop and flat, subject to the existing lease for the ground floor, is available at £235,000.
Rates
The property is entered into the Rating List as follows:
Description: Betting shop & premises
Rateable Value: £18,500
The flat is entered into the Council Tax List as a Band A property.
VAT
The property is not registered for VAT and therefore VAT will not be payable on the purchase price
Legal Costs
Each party to bear their own legal costs.
Service Charge
Viewing
Strictly by appointment with sole agents YoungsRPS.
Contact Paul Fairlamb
Parking
Planning
PROPERTY
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