Situation and Description
Situated in the heart of St Marychurch’s pedestrianised shopping centre stands this investment opportunity. Currently let for the past 5 years to an established operator as one unt, who trades as Precinct News and lives on the premises.
Please note the business is not for sale, nor is the residential element available for occupation. The property is sold subject to the occupational lease.
Lease
The premises are held on a 10-year lease from 20th June 2020 on an effective full-repairing and insuring term at a rental of £15,000 per annum. The Lease is subject to periodic rent review every three years with the next rent review due 20th June 2026.
We understand that the tenant has no arrears.
Accommodation
Ground Floor Shop Retail area 27m2 (290 sq ft)
Rear Kitchen/Store 3.32m x 5.1m
Self contained access
First Floor 2 bedrooms, lounge, kitchen, bathroom & separate WC
Rateable Value
£7,800
Council Tax
Band A
EPC
Rated D. Currently being re-assessed as recently expired
VAT
This property has not been elected to VAT.
Legal Costs
Each party to be responsible for their own legal costs incurred.
Viewing
Strictly by prior appointment. Please contact Waycotts on 01803 403060 or by email at [email protected].
PLEASE NOTE THAT THE TENANT WILL NOT ALLOW CASUAL CALLERS TO VIEW
