FREEHOLD COMMERCIAL INVESTMENT, VACANT REAR DERELICT BUILDINGS & REVERSIONARY GROUND RENT
Guide price: £120,000 - £125,000
Location & Description
A two storey mid terraced property comprising a ground floor shop with separate rear access to a first floor flat plus rear vacant derelict buildings.
Forming part of a local parade just south of the town centre and about ¼ mile from Biggleswade mainlne station. Biggleswade has good road links via the A1 and lies about 12 miles east of Bedford and 45 miles north of London.
ACCOMMODATION (Based on VOA website)
Ground Floor Shop:
1,224 sq ft (113.7 sq m)
Let on a repairing and insuring lease to Melissa Crane (trading as a beauty salon) for 12 years from 01.09.2014 at a current rent of £11,000 p.a. rising to £12,000 p.a. on 01.09.2017.
Tenant's break 01.06.2018 on six months' notice.
Rear Derelict Buildings:
Not measured. Offered VACANT
First Floor Flat (27a):
Sold on a 99 year lease from 01.07.1985 (about 67 years unexpired) at a fixed ground rent of £50 p.a.
EQUIVALENT TO £11,050 p.a. (RISING) PLUS VACANT REAR DERELICT BUILDINGS & REVERSIONARY GROUND RENT
Sold for £162,000
Title Plan takes priority over that in the catalogue. The ground rent from the flat is £25 p.a. Therefore the equivalent rent is £11,025 p.a.