for sale town centre investment - Realla
FOR SALE TOWN CENTRE INVESTMENT
01480 451578
www.b
28 & 30 Market Place, March, Cambridgeshire, PE15 9JF Net initial yield 8.58%
Price: £125,000
Self-contained retail unit
Current rent £11,250 per annum
Double fronted
Lease to 2035
Close to town centre free car parking
Freehold
‘Voted by the Estates Gazette Most Active Agent in the East of England 2014, 2015, 2016’
Bury St Edmunds
●
Cambridge
●
Huntingdon
●
Peterborough
LOCATION
SERVICES
March is a popular historic Fenland market town with a population of approximately 19,000. The town is situated 19 miles east of Peterborough, 20 miles north -east of Huntingdon, 12 miles south-west of Wisbech and 25 miles south-west of Kings Lynn. The town is well connected via the A141 (Fenland Road) and is an important centre in the Fenland area.
Mains electricity and water are available to the premises. Interested parties are however advised to make their own enquiries of the relevant service providers. No warranty can be given in respect of the condition or working order of services, fixtures and fittings.
TENANCIES
The subject property is prominently located within March Market Square, close to the town centre and the town centre short stay free public car park. The subject property is as shown on the plan attached to these particulars.
The property is let to Mr Bahattin Solak trading as March Turkish Barber by way of a 20 year lease from 27 October 2015 to 26 October 2035 at a current rent of £11,250 per annum, with rent payable quarterly in advance on the usual Quarter Days. There are upward only rent reviews at the 5th anniversary of the term and every fifth anniversary thereafter.
DESCRIPTION The property comprises a ground floor retail unit, originally comprising two bay fronted units which have been incorporated. Currently, one side of the unit is utilised as a retail area as a barbers shop with the other being storage and staff room areas. The property benefits from the following features:
PRICE £125,000 to show a net initial return of 8.58% allowing for purchaser’s costs of 4.7%.
BUSINESS RATES
Double bay fronted shop window Two glazed doors to front elevation WC Staff kitchen Staff restroom Suspended ceilings Gas fired central heating
For the year commencing 1 April 2016 the rateable value is £12,000 and estimated rates payable are nil. From 1 April 2017 the draft rateable value now released by the VOA is £11,250 and the property will therefore qualify for small business rates relief. The VOA website estimates that rates payable for UK registered businesses for which this will be its only occupied commercial premises will be nil.
Currently the property is used as a barbers shop under A1 Retail consent. Historically, it has also traded as an estate agents under A2 planning consent.
EPC Energy Performance Certificate rating C (72).
LEGAL COSTS
FLOOR AREAS Total size
Each party to be responsible for their own legal costs incurred in connection with this transaction.
64.49 sq m (694 sq ft)
WC ITZA area
VAT
53.47 sq m (556 sq ft)
VAT is not payable in respect of this property.
Note: Barker Storey Matthews is the trading name of BSMH Ltd. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be found at: www.ipmsc.org/standards/office
Bury St Edmunds
●
Cambridge
●
Huntingdon
●
Peterborough
VIEWING Strictly by appointment with the sole agents:-
Barker Storey Matthews 150 High Street, Huntingdon, Cambridgeshire PE29 3YH Contact: Stephen Power [email protected] (01480) 451578 7C1203 170308 rv
Note: Barker Storey Matthews is the trading name of BSMH Ltd. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be found at: www.ipmsc.org/standards/office
Bury St Edmunds
●
Cambridge
●
Huntingdon
●
Peterborough
ORDNANCE SURVEY PLAN THIS PLAN IS REPRODUCED FROM THE ORDNANCE SURVEY MAP WITH THE PERMISSION OF THE CONTROLLER OF HER MAJESTY’S STATIONERY OFFICE, © CROWN COPYRIGHT RESERVED. THIS PLAN IS PUBLISHED FOR IDENTIFICATION PURPOSES ONLY AND ALTHOUGH BELIEVED TO BE CORRECT, ITS ACCURACY IS NOT GUARANTEED AND IT DOES NOT FORM PART OF ANY CONTRACT. LICENCE NO. 100003928
01480 451578
www.b
28 & 30 Market Place, March, Cambridgeshire, PE15 9JF Net initial yield 8.58%
Price: £125,000
Self-contained retail unit
Current rent £11,250 per annum
Double fronted
Lease to 2035
Close to town centre free car parking
Freehold
‘Voted by the Estates Gazette Most Active Agent in the East of England 2014, 2015, 2016’
Bury St Edmunds
●
Cambridge
●
Huntingdon
●
Peterborough
LOCATION
SERVICES
March is a popular historic Fenland market town with a population of approximately 19,000. The town is situated 19 miles east of Peterborough, 20 miles north -east of Huntingdon, 12 miles south-west of Wisbech and 25 miles south-west of Kings Lynn. The town is well connected via the A141 (Fenland Road) and is an important centre in the Fenland area.
Mains electricity and water are available to the premises. Interested parties are however advised to make their own enquiries of the relevant service providers. No warranty can be given in respect of the condition or working order of services, fixtures and fittings.
TENANCIES
The subject property is prominently located within March Market Square, close to the town centre and the town centre short stay free public car park. The subject property is as shown on the plan attached to these particulars.
The property is let to Mr Bahattin Solak trading as March Turkish Barber by way of a 20 year lease from 27 October 2015 to 26 October 2035 at a current rent of £11,250 per annum, with rent payable quarterly in advance on the usual Quarter Days. There are upward only rent reviews at the 5th anniversary of the term and every fifth anniversary thereafter.
DESCRIPTION The property comprises a ground floor retail unit, originally comprising two bay fronted units which have been incorporated. Currently, one side of the unit is utilised as a retail area as a barbers shop with the other being storage and staff room areas. The property benefits from the following features:
PRICE £125,000 to show a net initial return of 8.58% allowing for purchaser’s costs of 4.7%.
BUSINESS RATES
Double bay fronted shop window Two glazed doors to front elevation WC Staff kitchen Staff restroom Suspended ceilings Gas fired central heating
For the year commencing 1 April 2016 the rateable value is £12,000 and estimated rates payable are nil. From 1 April 2017 the draft rateable value now released by the VOA is £11,250 and the property will therefore qualify for small business rates relief. The VOA website estimates that rates payable for UK registered businesses for which this will be its only occupied commercial premises will be nil.
Currently the property is used as a barbers shop under A1 Retail consent. Historically, it has also traded as an estate agents under A2 planning consent.
EPC Energy Performance Certificate rating C (72).
LEGAL COSTS
FLOOR AREAS Total size
Each party to be responsible for their own legal costs incurred in connection with this transaction.
64.49 sq m (694 sq ft)
WC ITZA area
VAT
53.47 sq m (556 sq ft)
VAT is not payable in respect of this property.
Note: Barker Storey Matthews is the trading name of BSMH Ltd. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be found at: www.ipmsc.org/standards/office
Bury St Edmunds
●
Cambridge
●
Huntingdon
●
Peterborough
VIEWING Strictly by appointment with the sole agents:-
Barker Storey Matthews 150 High Street, Huntingdon, Cambridgeshire PE29 3YH Contact: Stephen Power [email protected] (01480) 451578 7C1203 170308 rv
Note: Barker Storey Matthews is the trading name of BSMH Ltd. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be found at: www.ipmsc.org/standards/office
Bury St Edmunds
●
Cambridge
●
Huntingdon
●
Peterborough
ORDNANCE SURVEY PLAN THIS PLAN IS REPRODUCED FROM THE ORDNANCE SURVEY MAP WITH THE PERMISSION OF THE CONTROLLER OF HER MAJESTY’S STATIONERY OFFICE, © CROWN COPYRIGHT RESERVED. THIS PLAN IS PUBLISHED FOR IDENTIFICATION PURPOSES ONLY AND ALTHOUGH BELIEVED TO BE CORRECT, ITS ACCURACY IS NOT GUARANTEED AND IT DOES NOT FORM PART OF ANY CONTRACT. LICENCE NO. 100003928
