FREEHOLD COMMERCIAL/RESIDENTIAL INVESTMENT
Guide price: £640,000 - £650,000 *
Monday, 2nd October 2017 11:00am
Location & Description
An end of terrace property comprising a ground floor double shop with separate front access to 4 self-contained flats above. At the rear of the property is Coach House Court (accessed via Railway Lane) which comprises 5 self-contained flats, a rear bungalow and some derelict former residential accommodation. On the west side of the High Street, close to a Budgens and Lloyds Pharmacy and amongst a variety of local traders all serving the surrounding residential area.
Unit 1: 317 sq ft (29.4 sq m) Let on a business lease from 06.05.2015 to 30.04.2018 at £8,500 p.a.
Unit 2: 670 sq ft (62.3 sq m) Let on a business lease from 06.05.2015 to 30.04.2018 at £14,500 p.a.
9 self-contained flats & 1 bungalow
Comprising a mixture of 1-beds/studios, all let on ASTs.
A full tenancy schedule is available online.
Former Residential Accommodation: Known as 6 Coach House Court - Vacant
EQUIVALENT TO £67,520 p.a. PLUS VACANT FORMER RESIDENTIAL ACCOMMODATION FOR REPAIR
Planning was granted by Fenland District Council (ref: F/YR08/0160/F) on 21.05.2008 (now lapsed) for the erection of 4x1 bed flats at the rear of the site.
- Ground Floor Double Shop, 9 Self-Contained Flats & 1 Bungalow
- Plus Derelict Former Residential Accommodation (No. 6 Coach House Court)
- Equivalent £67,520 p.a
- Lapsed PP for 4x1 Bed Flats
Refer to auctioneer
The property is within the Chatteris Conservation Area. There are NEW special conditions as the seller doesn't have the original lease of unit 2 and the rent for this unit is £14,500 pa.
* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.