36 Cowgate, Peterborough, PE1 1NA
£168.44 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
3,562 sq ft
331 sq m
- SECTOR
High street retail property for sale
Key features
- City centre location
- Fully let restaurant over two floors and 2x two-bedroom flats above
- Suitable for a range of other uses in due course (subject to planning)
- Current net income of £36,800 per annum
- Rarely available retail freehold with scope to 'add value'
- Potential income in excess of £50,000 per annum
- EPC Ratings: B & C
Description
The property comprises a 4 storey building of brick construction, with a restaurant on the ground and first floors and two flats let on AST's on the second and third floors. The restaurant (Embe Soul Food) is currently paying a rent of £20,000 per annum, with the lease due to expire in April 2024, however the tenant is keen to renew for another 5 years (unbroken) - rent to be agreed. The two large flats above each have a combined rental income of £1,400 per calendar month (£16,800 per annum) - again the rent is to be negotiated upon renewal. Subject to planning, there is scope to add further residential units.
Viewings
Strictly by appointment with the sole agents.
Location
Peterborough is a cathedral city in Cambridgeshire, situated in the heart of the East of England. The city is located approximately 80 miles north of London, 77 miles east of Birmingham and 32 miles north of Cambridge. The city has excellent rail with the fastest journey time to London’s Kings Cross St Pancras being approximately 45 minutes. is conveniently located in Peterborough city centre close to the Queensgate roundabout.
Cowgate is one of the main thoroughfares in and out of the city centre. Nearby occupiers include Kall-Kwik, The Drapers Arms (Wetherspoons) and various estate agents including Connells , William H Brown, and City & County. More recently, Cowgate has seen the arrival of a range of restaurants and bar venues in recent years.
Terms
The property is available for a sale freehold. Guide price of £600,000.
Brochures
36 Cowgate, Peterborough, PE1 1NA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Peterborough Station0.2 miles
About Savills, Peterborough
Stuart House, City Road, Peterborough, PE1 1QF
Notes
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