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Lot 30 - 32 High Street, Chatteris, Cambridgeshire, PE16 6BG

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FREEHOLD COMMERCIAL INVESTMENT PLUS VACANT FORMER RESIDENTIAL ACCOMMODATION WITH DEVELOPMENT POTENTIAL

Guide price: £220,000 - £240,000

Location & Description

A double-fronted mid-terrace property comprising a ground floor shop (trading as two estate agencies) with separate front access to former residential accommodation on basement, part ground and first floor level.
Occupying a prominent position on the west side of the High Street, close to a Budgens, Lloyds Pharmacy and a variety of local traders all serving the surrounding residential area.

ACCOMMODATION (Based on VOA website)

Ground Floor: 683 sq ft (63.5 sq m)
Let on a business lease to John Hayes and Patrick Kavanagh for 10 years (less 1 day) from 01.10.2014 at a current rent of £17,000 p.a. rising to £18,000 p.a. on 01.10.2017 and £19,000 p.a. on 01.10.2018.
Rent review 01.10.2019.
Tenant’s break at the end of the 5th year on 6 months’ notice.

Former Residential Accommodation:
Arranged on basement, part ground & first floor level.
Offered VACANT

EQUIVALENT TO £17,000 p.a. (RISING) PLUS VACANT FORMER RESIDENTIAL ACCOMMODATION WITH DEVELOPMENT POTENTIAL

EPC Rating

Shop: C

Result

Sold for £238,000

Addendum

The Office Copy Entries show that the passageway between 32 and 34 High Street is within the freehold Title of No.32 but we understand that No.34 has acquired, by long use, a right of way over this to their upper part.

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