A town centre investment opportunity producing over a 10% return. The property fronts Military Road in the pedestrianised town centre, within close proximity to the main bus station terminal and entrance to The Pentagon Shopping Centre.
The property is arranged as a ground floor commercial unit, currently trading as a phone and vape shop, with three one- bedroom flats above. The flats are all currently let and in good order with gas heating systems via radiators and double glazed windows.
The upper parts were converted from offices three years ago, the communal parts have double glazed windows, the whole building has a fully integrated fire alarm system which was installed in 2020 and there has been a new roof.
Retail Unit Pav's Phones & Vapes
Ground Floor Shop floor.
Basement Kitchenette, two store rooms and W.C.
Tenancy Let on a 10-year commercial lease which expires in 2032, at a current rental of 14,500 per annum. We understand there is a break clause in 2027.
Residential Parts Ground Floor Communal entrance. First Floor Flat 1 Entrance hall, kitchen/living room, bedroom, bathroom with W.C. Tenancy Let on an Assured Shorthold Tenancy Agreement at a current rental of 750 per calendar month.
Second Floor Flat 2 Entrance hall, kitchen/living room, bedroom, bathroom with W.C. Tenancy Let on an Assured Shorthold Tenancy Agreement at a current rental of 700 per calendar month.
Third Floor Flat 3 Entrance hall, kitchen/living room, bedroom, shower room with W.C. Tenancy Let on an Assured Shorthold Tenancy Agreement at a current rental of 775 per calendar month.
Each Flat Council Tax Band A Tenure Remainder of a 125-year lease from 25th December 1982 at a ground rent of 2,200 per annum.
Viewing External only.
Residential EPC: C
Commercial EPC: C
Important: All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information *Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/
Sign up to The Landsite newsletter for the latest member insights, land and properties for sale across the UK, and stay in the know about The
Landsite and what’s happening with us.
Alternatively, follow us on our social media channels
