Description -

Prominent town centre retail / showroom premises available with vacant possession with residential upper parts long leasehold investment for sale / to let.

Investment Summary

The building comprises the freehold of the whole of this four storey building which comprises showroom accommodation on the ground floor, with six self-contained flats situated on the upper floors that have been sold off on long leases. The premises have a wide frontage with a return frontage to Exchange Street Car Park.

The showroom accommodation is currently used to display bathrooms but can be opened out to provide mainly open plan accommodation and would suit a variety of different uses subject to obtaining the necessary consents where required.

Vacant possession of the ground floor accommodation will be available on completion of a sale. The ground floor retail unit is also available to let and is suitable for a variety of uses under Class E including restaurant/café, educational, medical, crèches / day centres.

Accommodation -

The premises provide the following accommodation measured on an approximate gross internal area basis: -

Ground Floor Retail: 2,595 sq. ft / 241.08 sq.m

First Floor: 2 x 2 bedroom flats
Second Floor: 2 x 2 bedroom flats
Third floor: 2 x 2 bedroom flats

The six self-contained residential flats in the upper parts have all been sold off on long leases. Full details are available on request.

Terms -

Our clients seek offers in excess of £650,000 plus VAT if applicable for the freehold.

Rent -

£55,000 per annum plus VAT for a new full repairing and insuring lease for a term to be agreed for the ground floor retail unit.

Rateable Value -

The Valuation Office indicates a Rateable Value as of 1st April 2023 of £10,750 for the ground floor premises. Rate in the £ for 23/24 is 49.9p.

Energy Performance Rating -

The EPC rating for this property is D-81.