* Freehold investment for sale
* Ground floor sales 1826 sq ft
* Upper floors have been converted to residential use let on A 999 year lease at
* Guide price £700, 000
Situation:
The property occupies a prominent location on the High Street which is a
popular and busy location surrounded by many multiple retailers.
The property:
The premises comprise 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.
The ground floor 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.
**Grounde 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 or
legal costs:
The purchaser will be responsible for both side’s legal costs in this matter.
VAT:
The landlords elect to charge VAT.
EPCs
Shop: Band D
Flat 1: Band C
Flat 2: Band C
viewing:
Strictly by appointment with the Agents.

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