Price £350,000

Rates Payable Upon Enquiry

Description

Purpose built premises comprising two retail units and 8 apartments with undercroft car parking. The retail units are both let and the apartments have been sold.

Retail Unit 17 - let for a term of 9 years from June 2017. The passing rental is £8,000. The 2023 rent review has not been settled. We believe it to have a rental value of circa £13,000 per annum. Lease expires 2026.

Retail Unit 19 - let for a term of 15 years from June 2021. The passing rental is £14,000 per annum and was set in June 2021.

Undercroft Car Park - Approximately 5 spaces all demised.

Crown Court Apartments - 5 have already seen lease extensions. 3 apartments have not seen their ground leases extended. The ground leases are for a term of 99 years from March 1988. Current ground rent total income £760 per annum.

The last ground lease to be extended was undertaken at a premium of £23,800 in March 2019.

Terms

The freehold interest in the entire property is available at £350,000.

VAT

Unless otherwise stated, VAT will be payable at the appropriate rate, if applicable.