Shop for sale

6 Longsands Parade,St. Neots,PE19 1 SU

Under Offer 939 sq. ft. | £195,000

Property Description

Commercial information

  • 939 sq ft (87 sq m)
  • Use class orders: A1 Shops

Full description

Tenure: Leasehold

St Neots

St Neots is a market town located on the banks of the River Great Ouse. It is Cambridgeshire's fourth largest centre with a population of approximately 30,000 (including Little Paxton) and a catchment of around 70,000 within a 15 minute drive time. The town is a major growth centre within Cambridgeshire. Current and anticipated housing allocations suggest that the population will increase to around 35,000 people within the next 2-3 years. The next Local Plan Review is underway and it is considered likely that this will identify further significant housing allocations within the town. In addition, the township of Cambourne, located on the A428 some eight miles to the east of St Neots, is now well under construction. When completed, it is understood that Cambourne will have around 10,000 residents.
Benefiting from its electrified rail links to London Kings Cross (typical journey time of 50 minutes), the town has seen a considerable expansion of its commerce and industry in recent years. It also enjoys excellent road communications with London and the East Coast ports, being located at the intersection of the A1 trunk road and the A428/A421 Cambridge - Bedford route. The opening of the A14 (A1/M1 link) in 1997 has also significantly improved accessibility to the Midlands and the North West. The town has a good range of shopping facilities with many national multiple retailers represented, including Boots, Waitrose, Co-op, Dorothy Perkins, Edinburgh Woollen Mill, Marks & Spencer
Simply Food and Argos. There are a range of smaller retailers and two department stores - Beales and Barretts. The new development of the six screen cinema let to Cineworld and four restaurants including Pizza Express, Prezzo and Frankie and Benny's is now open.

The Property

The property comprises a long leasehold retail unit with residential flat above and is located within a neighbourhood shopping complex; Longsands Parade. The parade fronts Longsands Road, which connects to Cambridge Street providing direct access to St Neots High Street, approximately 2 miles from the property. Adjacent occupiers include Nisa Local and food operators. The end of terrace shop is currently used as a hairdresser and provides front reception, salon area , rear storage and staff room. Facilities include electric heating, fluorescent lighting, kitchenette and WC's. Customer parking is available to the front of the property. Access to the rear of the property is via the driveway adjacent which also provides access to the staff parking.

Rateable Value

2010 Rateable Value: 10,750
(2015/2016 Rate Poundage 48.0p/)
(Note: Transitional Relief/Charge may apply)

Information Pack

An information pack is available on request. This includes copies of the lease and title information.

Schedule of Accommodation

Front Retail Area 51.88 sq m 558 sq ft
Rear Lobby 3.95 sq m 42 sq ft
Central Room 14.17 sq m 152 sq ft
Staff Room 14.12 sq m 151 sq ft
Store 3.36 sq m 36 sq ft
TOTAL 87.48 sq m 939 sq ft

Tenure

The property is held on a long leasehold basis for a term of 2,000 years from 25th December 1986. The flat has been sold on a long leasehold basis for a term of 99 years and paying an annual ground rent of 200 per annum.

Lease Terms/Rental Income

The property is let to Mr Sam Parkash on a 15 year lease which commenced on 14th September 2012. The lease is drawn on Full Repairing and Insuring terms. The lease has an unexpired term of circa 12 years, without breaks. The passing rent is 13,000 per annum exclusive, subject to upward only rent reviews at three yearly intervals.

Investment Profile

St Neots is a rapidly expanding commercial centre which is influenced by the ongoing growth of the University City of
Cambridge and its sub-region. Now substantially completed, the first phase of the large scale housing development to the east of the town (at Loves Farm, Cambridge Road) comprises around 1250 homes. Additional land in this location is allocated in the Council's Core Strategy Document for the development of another 5000 dwellings during the Plan
Period to 2036, parts of which are the subject of current outline planning applications for mixed use development. Additionally, the opening in May 2014 of a six screen Cinema and Arts Complex together with four restaurants in Huntingdon Street has enhanced the desirability of the Town Centre. With the population set to expand considerably over the next few years, the ongoing shortage of retail space and the resilience of this market town during the downturn, the prospects for rental growth are considered to be extremely good.

Guide Price

Offers are invited - Guide Price: 195,000.

Viewing

Applicants wishing to undertake an internal viewing will need to make a prior appointment via Sole Agent Barford + Co.


More information from this agent

Energy Performance Certificates (EPCs)

Nearest station

  • St. Neots (0.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Barford & Co, St. Neots

17 Church Street, Eynesbury, St. Neots, PE19 2BU

01480 580070 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • St. Neots (0.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Barford & Co, St. Neots

17 Church Street, Eynesbury, St. Neots, PE19 2BU

01480 580070 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference K275A. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Barford & Co, St. Neots. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.