Location

Description

A rare and excellent opportunity to acquire an income producing town centre investment with the added benefit of development potential at first and second floor levels.

The ground floor is nestled in between a mix of national and regional retailers and historically has traded in both the retail and office sectors. Currently home to a national insurance brokers the property provides open plan office accommodation to front with rear office, store and staff facilities. The ground floor benefits from superb window frontage onto South Street, carpeted flooring, suspended ceiling with LED lighting, ample electrical points/sockets and air conditioning (not tested).

The upper floors which are self contained, have been through a carefully considered design and planning process providing a mix of studio, one, two and three bedroom apartments. The apartments are spacious and bright and provide open plan living/dining/kitchen space with separate bathrooms and bedrooms. There is a communal bin and bike store planned for the rear of the ground floor.

A summary of the accommodation can be found below:

Accommodation

The property has the following approximate floor areas:

Ground Floor	2,570 Sq Ft
First Floor	2,678 Sq Ft
Second Floor	2,579 Sq Ft
TOTAL AREA	7,827 Sq Ft

Terms

The property is available freehold, subject to the aforementioned Tenancy at ground floor level and vacant possession of the first and second floors.

Tenancy

The ground floor is let to A-Plan Holdings (acquired by Howdens in 2020) for a term of 10 years from 1st May 2018. The Lease contains no further break clauses or rent reviews. The passing rent is £50,000 Per Annum exclusive. A copy of the Lease is available to serious applicants upon request.

Planning

Planning has been granted under reference AWDM/0995/24 for the redevelopment including conversion and alterations, extensions at second floor and partial demolition at third floor of the existing building to retain commercial (Use Class E) at ground floor and accommodate 7no. residential flats across first and second floors.

Copies of all planning documents can be downloaded via the local authoirty planning portal or can be obtained by the selling agents.

Guide Price & VAT

£975,000 (Nine Hundred & Seventy Five Thousand Pounds)

VAT is to be charged on the quoting terms

Business Rates

According to the VOA (Valuation Office Agency) the property has a rateable value of £31,000. Interested parties are asked to verify this information with the local authority

Legal Costs

Each party to pay their own legal costs

EPC

Ground Floor: C(70)
Upper Parts: TBC

Anti-Money Laundering

In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.