Cheffins Lot
LOT
Clocktower Mews, Exeter Road, Newmarket, Suffolk, CB8 8LL
•
Commercial investment/Development opportunity
•
Gross rental income £53,455 per annum
•
Centrally located
•
High occupancy level
GUIDE PRICE
£440,000-£450,000
DESCRIPTION An opportunity to purchase a centrally located, retail/office investment in Newmarket with potential for future mixed use/residential development (STP). The property comprises 4 fully let ground floor retail units and multiple rooms at first floor used for offices/storage with access to communal toilet and tea-making facilities. The property benefits from 4 parking spaces as part of a private courtyard and has a total net internal area of approximately 256.75 m² (2,817 ft²). The property is let to a number of independent businesses on internal repairing tenancy agreements inclusive of electricity and water. Tenants are responsible for their own business rates. The gross rent is approximately £53,455 per annum. There is one vacant office with an estimated rental value in the order of £2,000 per annum. The landlord’s expenses for 2014 equated to £3,425.68 and are likely to be approx. £4,500 for 2015. PLANNING The property has planning consent for ground floor retail with offices over (ref: F/86/007). The property has potential for future residential development, subject to securing the necessary planning permissions. We recommend that interested parties make their own enquiries of West Suffolk Planning Department on 01284 763233. LOCATION Newmarket is a town in West Suffolk, close to the Cambridgeshire border and primarily known for being a world-famous centre for horseracing. The property is located in a secondary retail position, close to the ‘Clocktower’ roundabout and fronts Crown Walk which has pedestrian access from High Street and vehicular access off Exeter Road. Other businesses in the immediate vicinity include Iceland, Waitrose and a number of smaller independent retailers.
Not to scale. This plan is based upon the Ordnance Survey Map with the sanction of the Controller of HMSO Licence No. 100020449
Auctioneers Note
Please note that new tenancies for suites 5.2b and 5.4 will be entered into on completion of the sale.
Not to scale. This plan is based upon the Ordnance Survey Map with the sanction of the Controller of HMSO Licence No. 100020449
Tel: 01223 213777
cheffins.co.uk
LOT
Clocktower Mews, Exeter Road, Newmarket, Suffolk, CB8 8LL (Continued)
GUIDE PRICE
£440,000-£450,000
Premises
Tenant
Rent & MF Start Date
Duration
Expiry Date
Deposits
GF Suite 1A
Fuller
£2,580
1 Jun 2015
33 months End Feb 2018
FF Suite 5.1
Crescent Trust
£2,070
1 Nov 2015
5 years
End Oct 2020
FFSuite 5.2a
Vacant
Suite 5.2b *
MER
£2,000
On completion of sale 1 year
End Jul 2017
FF Suite 5.3
RPH
£2,000
1 Jun 2015
FF Suite 5.4 *
MER
£2,000
On completion of sale 1 year
End July 2017
FF Suite 6
Cresent Trust
24 months End May 2017
£5,700
1 Dec 2014
6 years
End Nov 2020
14 Crown Walk and 1c & 1b Drozdz
£13,730
1 Oct 2011
9 years
End Sept 2020 £611.67
15 Crown Walk
Niepieklo
£8,000
1 Nov 2011
7 years
End Oct 2018
16 Crown Walk
Lt Beauty Box Ltd £7,500
1 Oct 2015
3 years
End Sept 2018 £625.00
17 Crown Walk
Lt Beauty Box Ltd £7,500
1 Feb 2016
30 months End Jul 2018
Bay 4
Noli Shelala
1 Dec 2014
2 years
£375
End Nov 2016
* Leases to be executed on sale completion.
TENURE Freehold subject to tenancies. VAT will be applicable to the sale price. LEGAL PACK www.cheffins.co.uk/propertyauctions or Atkins Thomson, Low Green Barn, Nowton, Bury St Edmunds, Suffolk, IP29 5ND Tel: 01284 767766 Ref: RD
VIEWING Cheffins Commercial Department 01223 213666
Tel: 01223 213777
cheffins.co.uk
Clocktower Mews, Exeter Road, Newmarket, Suffolk, CB8 8LL
•
Commercial investment/Development opportunity
•
Gross rental income £53,455 per annum
•
Centrally located
•
High occupancy level
GUIDE PRICE
£440,000-£450,000
DESCRIPTION An opportunity to purchase a centrally located, retail/office investment in Newmarket with potential for future mixed use/residential development (STP). The property comprises 4 fully let ground floor retail units and multiple rooms at first floor used for offices/storage with access to communal toilet and tea-making facilities. The property benefits from 4 parking spaces as part of a private courtyard and has a total net internal area of approximately 256.75 m² (2,817 ft²). The property is let to a number of independent businesses on internal repairing tenancy agreements inclusive of electricity and water. Tenants are responsible for their own business rates. The gross rent is approximately £53,455 per annum. There is one vacant office with an estimated rental value in the order of £2,000 per annum. The landlord’s expenses for 2014 equated to £3,425.68 and are likely to be approx. £4,500 for 2015. PLANNING The property has planning consent for ground floor retail with offices over (ref: F/86/007). The property has potential for future residential development, subject to securing the necessary planning permissions. We recommend that interested parties make their own enquiries of West Suffolk Planning Department on 01284 763233. LOCATION Newmarket is a town in West Suffolk, close to the Cambridgeshire border and primarily known for being a world-famous centre for horseracing. The property is located in a secondary retail position, close to the ‘Clocktower’ roundabout and fronts Crown Walk which has pedestrian access from High Street and vehicular access off Exeter Road. Other businesses in the immediate vicinity include Iceland, Waitrose and a number of smaller independent retailers.
Not to scale. This plan is based upon the Ordnance Survey Map with the sanction of the Controller of HMSO Licence No. 100020449
Auctioneers Note
Please note that new tenancies for suites 5.2b and 5.4 will be entered into on completion of the sale.
Not to scale. This plan is based upon the Ordnance Survey Map with the sanction of the Controller of HMSO Licence No. 100020449
Tel: 01223 213777
cheffins.co.uk
LOT
Clocktower Mews, Exeter Road, Newmarket, Suffolk, CB8 8LL (Continued)
GUIDE PRICE
£440,000-£450,000
Premises
Tenant
Rent & MF Start Date
Duration
Expiry Date
Deposits
GF Suite 1A
Fuller
£2,580
1 Jun 2015
33 months End Feb 2018
FF Suite 5.1
Crescent Trust
£2,070
1 Nov 2015
5 years
End Oct 2020
FFSuite 5.2a
Vacant
Suite 5.2b *
MER
£2,000
On completion of sale 1 year
End Jul 2017
FF Suite 5.3
RPH
£2,000
1 Jun 2015
FF Suite 5.4 *
MER
£2,000
On completion of sale 1 year
End July 2017
FF Suite 6
Cresent Trust
24 months End May 2017
£5,700
1 Dec 2014
6 years
End Nov 2020
14 Crown Walk and 1c & 1b Drozdz
£13,730
1 Oct 2011
9 years
End Sept 2020 £611.67
15 Crown Walk
Niepieklo
£8,000
1 Nov 2011
7 years
End Oct 2018
16 Crown Walk
Lt Beauty Box Ltd £7,500
1 Oct 2015
3 years
End Sept 2018 £625.00
17 Crown Walk
Lt Beauty Box Ltd £7,500
1 Feb 2016
30 months End Jul 2018
Bay 4
Noli Shelala
1 Dec 2014
2 years
£375
End Nov 2016
* Leases to be executed on sale completion.
TENURE Freehold subject to tenancies. VAT will be applicable to the sale price. LEGAL PACK www.cheffins.co.uk/propertyauctions or Atkins Thomson, Low Green Barn, Nowton, Bury St Edmunds, Suffolk, IP29 5ND Tel: 01284 767766 Ref: RD
VIEWING Cheffins Commercial Department 01223 213666
Tel: 01223 213777
cheffins.co.uk
