Property description
A prominent high street lock up shop located in a great town centre location. The property is currently being used as a bridal shop and is providing a great return.
Occupying a prominent location, with excellent window frontage, on the edge of the High Street, a well presented lock up shop providing an excellent investment return. The property is currently let to the well established Ivory Secrets Bridal Shop, with approximately 2 & ½ years remaining on their lease and provides an approximate gross yield of 9.2% based upon the asking price, making it an ideal investment property.
The property has a total floor area of just over 400 square feet and is currently open plan, with the exception of the rear kitchen / utility area but could be divided at a later date should the property become vacant and should the current tenant not wish to extend their lease. It is also out of the designated town centre area, in terms of restrictions on retail usage and was previously an office, so it would be suitable for a variety of uses (subject to planning) making the property easier to let.
The accommodation varies in size from front to back and comprises with approximate measurements;
FRONT SHOP AREA - 16' 4'' x 8' 10'' (4.97m x 2.69m)
With large window frontage open plan and narrowing to
MIDDLE AREA - 11' 0'' x 7' 6'' (3.35m x 2.28m)
Open plan and widening again to
REAR AREA - 7' 2'' x 3' 7'' (2.18m x 1.09m)
BACK OFFICE - 13' 2'' x 6' 0'' (4.01m x 1.83m)
With door and step to
KITCHEN/UTILITY/TOILET
Overall dimension of 15' x 6' (4.57m x 1.83m) with kitchen area, separate toilet and rear access.
RATEABLE VALUE
£6,800/Annum
RATES PAYABLE
£2,862.80
LEASE
The property is available on the balance of 125 year lease, with approximately 100 years remaining and the leaseholder will also own a quarter share of the Freehold.