An extended ground floor shop of just over 1,000sqft with an additional and spacious 3 bedroom maisonette above.
To the rear of the shop there is a large parcel of land fronting Byron Place benefitting from vehicular access, which may offer long term development potential, subject to planning consent.
The maisonette offers potential to reconfigure or extend to create additional bedrooms, subject to obtaining the necessary consents.
We believe the property is currently underlet and suggest a market rent of circa £12,000pa for the shop and £350-£400pcm per room for the maisonette if let on a room by room basis. I.e A potential gross rental income of £25,800pa or more if the maisonette were to be reconfigured.
The property is situated on the High Street opposite The Square shopping precinct.
Let at £10,200pa on a 10 year lease from 1st May 2013 subject to a 5 year rent review (which has not been actioned) on an effectively internal repairing basis. The rent had previously been agreed at £12,000 and a memorandum was signed to this effect but our client has allowed for a reduction to £10,200pa since the start of the lease.
We understand the commercial demise currently includes the rear yard.
The maisonette is let on an Assured Shorthold Tenancy at £795pcm (inclusive of water).
Rating - Maisonette - E
Rating - Shop - D
The floor plan is provided for indicative purposes only and should not be relied on.
All figures quoted are exclusive of VAT unless otherwise stated.
The rateable value with effect from April 2017 is £9,000.
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As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.