INVESTMENT OPPORTUNITY. EXTENSIVE 3 STOREY HIGH STREET MIXED USE Premises. This tenanted property comprises an Amusement Arcade and further Shop, with 3 Residential Flats above, being WELL LOCATED within this popular retail area of the town centre.
DESCRIPTION
18 HIGH STREET
Commercial Let.
LA Amusements, Amusement Arcade
ACCOMMODATION
Ground floor, double fronted Amusement Arcade with further first floor storage.
The accommodation comprises an open showroom with further reception, kitchen, office and toilets to the ground floor with storage room, corridor, cloakroom and utility room, to the first floor,
RATEABLE VALUE
The Valuation Office Agency Rateable Value of £19,500 from 1st April 2017 comprises:-
Ground Floor:
Retail Zone A : 395.65 sq.ft. : 36.77 sq.m.
Retail Zone B : 359.92 sq.ft. : 33.45 sq.m
Retail Zone C : 360.46 sq.ft. : 33.5 sq.m.
Remaining Retail Zone : 139.88 sq.ft. : 13 sq.m.
Retail Zone B: 106.52 sq.ft. : 9.9 sq.m.
Remaining Retail Zone : 230.26 sq.ft. : 21.4 sq.m.
Retail Zone C : 548.76 sq.ft. : 51 sq.m.
Public Toilets: 146.34 sq.ft. : 13.6 sq.m.
Total Ground Floor: 2287.79 sq.ft. : 212.62 sq.m.
First Floor Internal Storage : 511.10 sq.ft. : 47.5 sq.m.
Overall Total : 2798.89 sq.ft. : 260.12 sq.m.
20 HIGH STREET
Commercial Let. Occupier.
Ria Money Transfer & Info Express
ACCOMMODATION.
A double fronted ground floor sales shop.
RATEABLE VALUE.
The Valuation Office Agency Rateable Value of £8,900 from 1st April 2017 comprising of:
Ground Floor:
Retail Zone A : 307.84 sq.ft. 28.61 sq.m.
Ground Floor:
Retail Zone B: 218 sq.ft. : 20.26 sq.m.
Total: 525.84 sq.ft : 48.87 sq.m.
Between 18 & 20 High Street Shops, a communal ground floor entrance door provides access to the Hallway which, in turn, leads to 3 apartments:-
18A HIGH STREET
A first floor apartment comprising Entrance Hall, Landing, Lounge/Diner, fitted Kitchen, Double Bedroom and Shower Room.
Rental Income as at January 2018 : £425 per calendar month.
18B HIGH STREET
A first floor apartment comprising Hallway, Bedroom, Lounge/Diner with opening to fitted Kitchen, Bathroom.
Rental Income as at January 2018 : £450 per calendar month.
18C HIGH STREET
A second floor apartment comprising Hallway, Lounge/Diner, fitted Kitchen, 2 Bedrooms, Bathroom.
Rental Income as at January 2018: £525 per calendar month.
EXTERIOR
A rear garden laid to lawn overlooking the River Haven.
TENURE
Freehold.
The freehold to the property is for sale. The property is subject to leases for the commercial units and residential apartments.
18 and 20 High Street : 15 year lease at £14,000 p.a.
18A High Street : Assured Shorthold Tenancy: £425 pcm, £5100 pa.
18B High Street: Company Let Tenancy Agreement: £450 pcm, £5400 pa.
18C High Street: Company Let Tenancy Agreement: £525 pcm, £6300 pa.
Gross Annual Income as at January 2018 : £30,800.
EPC RATINGS
First Floor Apartment 18a:
Energy Efficiency Rating: Current - D -61 Potential- C-72
Environmental Impact rating: Current- D-60 Potential- D-62
First Floor Apartment 18b:
Energy Efficiency Rating: Current - E- 39 Potential- D-67
Environmental Impact rating: Current- F -25 Potential- E-46
Second Floor Apartment 18c:
Energy Efficiency Rating: Current - D-64 Potential- C-74
Environmental Impact rating: Current- D-64 Potential- D66
AGENTS NOTE
The rental income stated is correct as at 6th January2018.
Buyers must satisfy themselves at time of purchase the rental income charges.
The photographs for 18A, 18B, 18C are from 2017 before the tenants took occupation.
A copy of the lease is available for inspection at this office.
Note: All measurements are approximate. The services, fixtures and fittings have not been tested by the Agent.
All properties are offered subject to contract or formal lease offered subject to not being previously sold or withdrawn; these particulars are issued on the understanding that all negotiations are conducted through Bruce Mather Limited.
.
Bruce Mather Limited for themselves and for Sellers and Lessors of this property whose Agent they are give notice that:-
1) the particulars, whilst believed to be accurate, are set out as a general outline for intended buyers or lessees and do not constitute nor constitute part of any offer or contract; 2) All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending Buyers or Tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to their accuracy; 3) no person in the employment of Bruce Mather Limited has any authority to make or give any representation or warranty whatever in relation to this property.
VIEWINGS
Strictly by appointment with the selling agents, Bruce Mather Ltd. Tel: 01205 365032, Option 3.
ACCOMMODATION
Ground floor, double fronted Amusement Arcade, with further first floor storage.
The accommodation comprises an open plan showroom with further reception, kitchen, office and toilets to the ground floor with storage room, corridor, cloakroom and utility room, to the first floor,
18B HIGH STREET
A first floor apartment comprising Hallway, Bedroom, Lounge/Diner with opening to fitted Kitchen, Bathroom.
Currently Vacant
TENURE
Freehold.
The freehold to the property is for sale. The property is subject to leases for the commercial units and residential apartments.
18 and 20 High Street : 15 year lease at £14,000 p.a. Lease commenced 25th September 2008
18A High Street : Assured Shorthold Tenancy: £450 pcm, £5,400 pa.
18B High Street: £450 pcm, £5,400 pa.
18C High Street: Company Let Tenancy Agreement: £550 pcm, £6,600 pa.
Gross Annual Income as at July 2022 : £31,400
AGENT'S NOTE
The rental income stated is correct as at July 2022
Buyers must satisfy themselves at time of purchase the rental income charges.
The photographs for 18A, 18B, 18C are from 2017 before tenants took occupation.
A copy of the lease is available for inspection at this office.
Note: All measurements are approximate. The services, fixtures and fittings have not been tested by the Agent.
All properties are offered subject to contract or formal lease offered subject to not being previously sold or withdrawn; these particulars are issued on the understanding that all negotiations are conducted through Bruce Mather Limited.
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