for sale freehold investment property the station station road ashby de ...
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FOR SALE FREEHOLD INVESTMENT PROPERTY THE STATION STATION ROAD ASHBY DE LA ZOUCH LEICESTERSHIRE LE65 2GL
FREEHOLD INVESTMENT INCOME £25,000 PER ANNUM HISTORIC GRADE II* LISTED BUILDING GUIDE PRICE £310,000 EPC GRADE D(79)
THE STATION, STATION ROAD, ASHBY DE LA ZOUCH, LEICESTERSHIRE LOCATION Ashby de la Zouch is an established market town in north west Leicestershire with a population of 14,000 and sits adjacent to the A42 trunk road. Derby is 12 miles away, Burton Upon Trent 10 miles away and East Midlands Airport is only 9 miles away. Major employers include United Biscuits, Tesco and many more.
SITUATION The property is situation in the centre of Ashby de la Zouch on the edge of the retail area on one of the arterial routes leaving the town centre. The Station is set back from the highway in a mixed residential and employment area approached by a wide forecourt and yard which creates an attractive cobbled car park.
DESCRIPTION The property comprises the former passenger railway station serving Ashby de la Zouch. The Grade II* listed building, built in 1849 is a small neoclassical building with side pavilions and Doric columns, in keeping with the nearby Royal Hotel which was built in 1826. The Station closed in 1964 but the line remains open for very, very occasional freight trains. The property was converted to office use in the 1960's and has recently been converted to a kitchen design showroom in 2014. Planned up on 2 floors, ground floor and basement. The ground floor has been refurbished and fitted out in various kitchen displays. The basement offices are still in the process of conversion for further display areas. In addition, there are extensive cellars/former air raid shelters. The showroom and office areas extends to 2,966 sq ft (275.5 sq m). EPC
The property has an energy performance rating of D(79). A copy of the certificate is available upon request.
TENURE
Freehold, subject to the letting to The Station Limited.
LEASE TERM
A Term of 10 years from 24 March 2016 at an initial rental of £25,000 per annum. The Lease is subject to upward only rent reviews every 3 years in line with increases in the Retail Price Index. The Lease is subject to Tenant only break on the 5th year of the term. If the Tenant does not exercise the break, they will benefit from an additional 3 months rent free period at the commencement of the 6th year. This is an FRI Lease.
VAT
The property has been elected for VAT and therefore VAT may be payable on the sale. It is intended that the property will be sold as a TOGC.
SERVICES
All main services are available to the building although no mains service test of supplies or equipment within the building have been undertaken. The building has a central heating system, heated by a gas fired boiler with wall mounted hot mounted radiators.
PRICE
£310,000
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in the transaction.
VIEWING
Strictly by prior appointment with Rushton Hickman Limited.
REFERENCE
C1324 - 08112016
FOR SALE FREEHOLD INVESTMENT PROPERTY THE STATION STATION ROAD ASHBY DE LA ZOUCH LEICESTERSHIRE LE65 2GL
FREEHOLD INVESTMENT INCOME £25,000 PER ANNUM HISTORIC GRADE II* LISTED BUILDING GUIDE PRICE £310,000 EPC GRADE D(79)
THE STATION, STATION ROAD, ASHBY DE LA ZOUCH, LEICESTERSHIRE LOCATION Ashby de la Zouch is an established market town in north west Leicestershire with a population of 14,000 and sits adjacent to the A42 trunk road. Derby is 12 miles away, Burton Upon Trent 10 miles away and East Midlands Airport is only 9 miles away. Major employers include United Biscuits, Tesco and many more.
SITUATION The property is situation in the centre of Ashby de la Zouch on the edge of the retail area on one of the arterial routes leaving the town centre. The Station is set back from the highway in a mixed residential and employment area approached by a wide forecourt and yard which creates an attractive cobbled car park.
DESCRIPTION The property comprises the former passenger railway station serving Ashby de la Zouch. The Grade II* listed building, built in 1849 is a small neoclassical building with side pavilions and Doric columns, in keeping with the nearby Royal Hotel which was built in 1826. The Station closed in 1964 but the line remains open for very, very occasional freight trains. The property was converted to office use in the 1960's and has recently been converted to a kitchen design showroom in 2014. Planned up on 2 floors, ground floor and basement. The ground floor has been refurbished and fitted out in various kitchen displays. The basement offices are still in the process of conversion for further display areas. In addition, there are extensive cellars/former air raid shelters. The showroom and office areas extends to 2,966 sq ft (275.5 sq m). EPC
The property has an energy performance rating of D(79). A copy of the certificate is available upon request.
TENURE
Freehold, subject to the letting to The Station Limited.
LEASE TERM
A Term of 10 years from 24 March 2016 at an initial rental of £25,000 per annum. The Lease is subject to upward only rent reviews every 3 years in line with increases in the Retail Price Index. The Lease is subject to Tenant only break on the 5th year of the term. If the Tenant does not exercise the break, they will benefit from an additional 3 months rent free period at the commencement of the 6th year. This is an FRI Lease.
VAT
The property has been elected for VAT and therefore VAT may be payable on the sale. It is intended that the property will be sold as a TOGC.
SERVICES
All main services are available to the building although no mains service test of supplies or equipment within the building have been undertaken. The building has a central heating system, heated by a gas fired boiler with wall mounted hot mounted radiators.
PRICE
£310,000
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in the transaction.
VIEWING
Strictly by prior appointment with Rushton Hickman Limited.
REFERENCE
C1324 - 08112016
