Description -

The building is Grade II listed and is the first floor property above 47 High Street. Access to the property is from Church Street at ground floor level which leads to an entrance lobby and a staircase leading to the first floor. The accommodation comprises attractive period offices which provides a mixture of open plan and executive offices and includes a kitchen, reception area and male and female WCs. There is an abundance of original features within the building including exposed beams.

There are three car parking spaces located in a communal area and accessed via Church Street

INVESTMENT SUMMARY
The property is let to Sweeting & Smedley Limited from 29th September 2019 for a 12 year term. The commencing rent is £12,000 per annum and the rent increases by roughly 3% every year until the end of the term. The current rent is £13,506 per annum.

The tenant has a rolling break clause from 29th September 2023 operable with a minimum of six months prior written notice at any time. The lease is contracted outside of The Security of Tenure Provisions of The Landlord & Tenant Act 1954 Part II.

LONG LEASEHOLD DETAILS:
The long lease is for a term of 99 years from the 25th March 1980 expiring on 24th March 2079. The rent is £100 per annum.

Accommodation -

The premises provide the following accommodation measured on a net internal area basis: -

First Floor Offices: 132.06 m2 / 1,421.49 sq. ft.

Terms -

Our clients seek offers of £275,000 for their long leasehold interest, plus VAT.

Rateable Value -

The Valuation Office indicates a Rateables Value as of 1st April 2023 of £17,500. Rate in the £ for 2024/25 is 49.9p

Energy Performance Rating -

D-85.