A modern lock up shop/office of approximately 485 ft² situated in a bustling position opposite The Co-Operative supermarket on St Michaels Hill. The shop benefits from electric panel heaters, wooden sash windows and is available to let on the assignment of a 5 year term which commenced in 2023, subject to a tenant break option in October 2025.
DESCRIPTION -
A modern lock up shop/office of approximately 485 ft² situated in a bustling position opposite The Co-Operative supermarket on St Michaels Hill. The shop benefits from electric panel heaters, wooden sash windows and is available to let on the assignment of a 5 year term which commenced in 2023, subject to a tenant break option in October 2025.
LOCATION -
The shop is situated in a busy trading position on St Michael's Hill. Notable neighbouring occupiers include Beerd, St Peter's Hospice and the Co-Operative supermarket.
BUSINESS RATES -
The Rateable Value with effect from September 2023 is £12,500. We therefore would expect those eligible for small business relief to benefit from a sizable discount at this time, but we advise all interested parties to confirm directly with the local authority.
CODE FOR LEASING BUSINESS PREMISES -
We advise all interested parties to refer to the RICS Code for Leasing Business Premises, link available via our website.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: D - Valid to July 2026.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
TENANT APPLICATION FEE -
The ingoing tenant will be charged an application fee of £250 plus VAT (£300 inc VAT) towards the costs incurred in undertaking appropriate credit and reference checks. Accounts will be requested where available and a deposit and/or personal guarantee may be required.
LEASE DETAILS -
The shop is available to let on an assignment of the existing 5 year term which commenced in April 2023, and is subject to a tenant break option in October 2025. The terms are draft on an effectively fully repairing and insuring basis although the service charge for the building is capped at £1,500pa. The outgoing tenant and ingoing tenant should incur their own respective legal fees. We suggest the landlords fees be split equally between the exiting and prospective tenant. However, we understand that alternatively, the landlord may consider granting a new lease (based on similar terms).
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
By appointment.
CONTROL OF ASBESTOS REGULATIONS -
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.
