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Retail Property (high street) for sale
Borough Road, Burton-Upon-Trent, DE14
- Use class orders: A1 Shops
Burton upon Trent is a town straddling the River Trent in Staffordshire located approximately 10.1 miles (16.3 km) north west of Ashby de la Zouch, 12 miles (19.3 km) south west of Derby and 12.4 miles (20 km) north east of Lichfield.
The sales premises is located close to the town centre at the corner of Borough Road and Derby Street which is adjacent to Burton Railway Station where East Midlands Trains run regular direct services to London St Pancras with journey times of approximately 2 hours.
Derby Street (A5121) is a main arterial route which links with Horninglow Road (A511) approximately 0.5 miles (0.8 km) to the north and the A38 approximately 1.5 miles (1.6 km) to the south.
The premises comprise a stone built single storey retail unit with the benefit of extended frontage onto both Derby Street and Borough Road. We are advised that the premises were originally constructed as a Co-op Store and therefore offer purpose built prominently located retail space.
The ground floor has been arranged to provide an open plan shop floor with an area sectioned off as a separate showroom. At the lower ground floor there is extensive useable space arranged to provide a further showroom/retail area, a goods entrance for deliveries and extensive storage.
SCHEDULE OF ACCOMMODATION
The premises have been measured in accordance with the RICS Code of Measuring practice and is estimated to extend as follows:
Sales Area 5,500 sq ft (510 sq m)
Lower Ground Floor
Sales Area 1,900 sq ft (178 sq m)
Stores/Loading 2,500 sq ft (232 sq m)
Further small stores
There is a rear service yard affording loading facilities. There is on street car parking in Derby Street and Waterloo Street, close to the property.
It is understood that the established use of the premises is classified as A1 (Retail). A third party has purchased the long leasehold interest of the roof space which benefits from a planning consent referenced PA/21873/008/SA for the development of two 2 bed and three 1 bed apartments.
All planning information should be confirmed with, and further enquiries should be directed to the planning team at East Staffordshire Borough Council, who can be reached on 01283 508000.
It is understood that mains electricity, water and drainage are available at the premises. Potential purchasers should satisfy themselves as the availability of the services and that they are adequate for their proposed use.
The premises are available on a new FRI lease for a flexible term of years incorporating 3 yearly rent reviews. Flexible lease arrangements will be considered. Alternatively the premises are offered freehold.
Rental offers around £37,500 per annum exclusive.
Offers in the region of £400,000 are invited for the freehold interest.
The roof space has the benefit of planning consent for the development of 5 flats and a long leasehold interest in this space has been ‘sold’ on a long lease for a term of years expiring on 19th February 3008 at a rental of £1,750 per annum. Any purchase of the property will have the benefit of the income from this long leasehold sale.
We are advised the premises has a rateable value of £29,250. The current multiplier to calculate likely rates payable is 0.433. All rating information should be confirmed with the Rating Department at East Staffordshire Borough Council, who can be reached on 01283 508000.
The ingoing Tenants are to be responsible for their own and the Landlords legal costs.
In respect of a sale each party will be responsible for their own legal costs.
We are advised that VAT is not payable on the purchase price. All figures are quoted exclusive of VAT. Purchasers must satisfy themselves as to the VAT position if necessary by taking the appropriate professional advice.
Unaccompanied road side viewings are possible. Accompanied internal inspections are to be arranged by prior appointment with BB&J. Please contact:
Tel: 01332 292825
Or our joint agent:
Rushton Hickman Ltd