0 Bed Commercial Property For Sale

StrapLine

A freehold property arranged as a ground floor retail unit with land at the rear and a studio flat above.

Planning permission lapsed for a further 2 flats to the rear.

Investment let at £22,400 per annum (11.78% GIY on guide price).

Description

A freehold property arranged as a ground floor retail unit with land at the rear and a studio flat above.

Planning permission lapsed for a further 2 flats to the rear.

Investment let at £22,400 per annum (11.78% GIY on guide price).

Please refer to the Accommodation/Tenancy schedule for more information.

Location

The property is located on the North side of Queen's Street, which is accessed from Withersfield Road and Hamlet Road. Nearby occupiers include Costa Coffee, Iceland, Greggs, Papa Johns, Premier and many other independent shops, restaurants and cafes.

Transport

Road links via A143 and A1307.

Tenancy

Ground floor retail unit let to a private individual t/a as Hair Mecanix for a term of 10 years from 2023 for £10,500 per annum paid quarterly. Holding deposit of £2625 (3 months rent).

Additionally, the rear land is currently let to the shop tenant on a licensing agreement for £1,400 per annum paid quarterly in advance. 

First floor studio flat let on an Assured Shorthold Tenancy for £10,500 per annum. Agreement is protected by the council under a rent guarantee scheme.