2 Bed Commercial Property For Sale

LOCATION
The premises are located in Sudbury, a popular and expanding market town in Suffolk, with a population of
around 24,000 people (2021 Census) although serving a much larger hinterland. The town is situated some 12
miles from both Bury St Edmunds and Colchester, on the A134 road. There is a railway station with services
connecting with the mainline to London (Liverpool Steet) at Marks Tey.
The property is situated within the main retail core of the town, centred on the area around the junction of
North Street, East Street and Market Hill. Other occupiers in the immediate area include W H Smith,
Waterstones, Boots, Peacocks and Iceland.

DESCRIPTION
A substantial Grade II listed property of traditional (rendered) timber frame construction under a clay tiled roof
to the front, with a ground floor extension to the rear of frame construction under a flat felt roof. The ground
floor comprises a large open plan retail area, with a WC to the rear, and stairs up to the first floor which
comprises an office, store room, staff room and WC. There is also a small basement and rear yard area.
On the first floor there is also an entrance door leading to a staircase up to the flat arranged on the second
floor. The flat comprises a reception hall, lounge, kitchen, two bedrooms and a bathroom.

ACCOMMODATION
The shop property has the following overall net internal floor area, measured in accordance with the R I C S
Code of Measuring Practice:
Ground Floor 1,153 sq. ft. (107.1 sq. m) or 740 sq. ft. (68.7 sq. m) “in terms of Zone A”.
First Floor 651 sq. ft. (60.5 sq. m).
Second Floor 741 sq. ft. (68.8 sq. m).
TOTAL NET FLOOR AREA 2,545 SQ. FT. (236.4 SQ. M)

LEASES
The shop property is let on a 10 year lease from 1st April 2021 to Nero Holdings Limited (Caffe Nero). This
company recorded a turnover of £302 million in the year to 31st May 2023. The lease is on internal repairing
and insuring terms, at a current rent of £36,500 a year. There is an upward only review to market value on 1st
April 2026. The tenant has an option to break on 1st April 2027, subject to 6 months prior written notice. The
tenant is also liable to re-imburse the landlord 80% of the costs incurred by the landlord in the repair and
maintenance of the exterior and structure of the property.
The flat is subject to an Assured Shorthold Tenancy (now a Statutory Periodic Tenancy) to two individuals (who
have been in occupation since August 2010) at a current rent of £750 per calender month (£9,000 per year).

TENURE
The property is owned freehold, although the flat (92A) is let on a 150 year lease from 29th July 2004, at a
peppercorn rent. The tenant is liable for 20% of the costs incurred by the landlord in the repair and maintenance
of the exterior and structure of the property. Both the freehold and long leasehold interests are offered for sale,
subject to the existing leases detailed above, at offers in the order of £650,000.