20 / 20A High Street, Tutbury, DE13 9LT

LOCATION:
Tutbury is an attractive and historic Staffordshire village located approximately 4 miles northwest of Burton on Trent on the A511.

The affluent village benefits from good road communications, being located just off the A50 trunk road, which links Stoke on Trent and the M6 in the west, and Derby and the M1 to the east.

The property occupies a prominent location within the village centre.

DESCRIPTION:
The property comprises a three storey, semi-detached former bank premises, with prominent frontage to the village's popular high street.

The ground floor commercial element was formerly used as banking hall and which is predominantly open plan in nature, with staff facilities, WC's and stores located to the rear of the customer area. The ground floor has been fully refurbished to include full redecoration, new floor tiles, new heating and electrics, lighting, floor data/power connections, security alarm and a new kitchenette.

The ground floor is suitable for a variety of uses, including:-

- Retail
- Restaurant / Bar (bar use STP)
- Takeaway (STP)
- Office

The separately accessed first and second floor apartment has been recently refurbished and is currently let to a long-standing tenant, subject to an Assured Shorthold Tenancy of 12 months, which expires on 30 September 2024. The apartment has the following features:-

- Two double bedrooms
- New kitchen
- Lounge
- New bathroom

Externally, the property has an extensive rear garden with mature trees and foliage and which has been fenced to provide an outside area for the commercial element and a private garden for the residential element. The garden can, however, be subdivided to suit occupier needs.

TERMS:
The property is available to purchase freehold, subject to the Assured Shorthold Tenancy of the residential element.

ACCOMMODATION: (NIA)
Ground Floor Retail: 167.46 sq m (1,802 sq ft)
First Floor Apartment: 86.7 sq m (933 sq ft)
TOTAL 254.16 sq m (2,735 sq ft)

RENTAL INCOME: (PER ANNUM GROSS)
Ground Floor Retail: £20,000 (ERV) - VACANT
First Floor Apartment: £8,700 - LET

PRICE:
The property is available to purchase at a level of:-
£350,000 (Freehold)

Assuming purchaser's costs of 3.80%, this shows a NIY of 7.90%, when fully let at the ERV.

RATES & COUNCIL TAX:
Rateable Value 2023/24 (GF Accommodation): £14,750
Council Tax (First Floor Apartment): Band - B

PLANNING:
E: (Commercial, Business, Service) - Retail
C3: (Dwelling Houses) - Upper floors only

The property is suitable for a variety of uses, subject to obtaining the necessary planning consents.

VAT:
Vat is not applicable to the purchase price.

EPC:
Commercial Element - C-75
Residential Apartment - D-59

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