Price £350,000

Rates Payable Upon Enquiry

EPC Rating This property has been graded as B (40)

Description

The building forms part of a terrace of properties in a mixed retail and residential area. It is arranged over two floors and comprises of ground floor retail and two first floor one bedroomed self-contained residential flats. The property is brick built under a pitched slate roof and has been extended at the rear to create additional single storey back up space under a flat asphalt roof with rear roller shutters for servicing from the adjacent Walmsley Street. This area has split levels incorporating a scissor lift, mangers office, kitchen and toilet facilities. The ground floor retail space has been amalgamated to provide an open sales area with air conditioning and suspended ceiling. Access to the flats are by way of a secure separate side entrance at the rear of the building. Roadside parking is available immediately outside the building with further parking provision along High Street and the adjacent side roads.

Tenure

We area advised that both 105 and 107 High Street are held Freehold.

Tenancy Information

The whole property is let by way of two separate full repairing and insuring leases to James Hall and Company Limited (Company Number 01022295) t/a Spar for 15 years from the 28th November 2023 at a combined rent equating to £20,000 per annum and subject to 5 year upward only rent reviews. Both leases are subject to tenant only break clauses with effect from the 28th November 2033 subject to prior written notice giving an unexpired term certain of over 8 years. The tenant has sub-let the upper floor flats to two individuals.

Asking Price

We are seeking offers at £350,000 for the benefit of our clients freehold interests in both properties.

VAT

We are advised that Vat is not applicable to the sale of the property.

Services

Mains electricity, gas, water and drainage are connected

Legal Costs

Each party to be responsible for their own legal costs.

Anti-Money Laundering Regulations

In accordance with Anti-Money Laundering Regulations, two forms of Identification and confirmation of the source of funding will be required from the successful purchaser.