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Retail Property (high street) for sale

Westgate, Sleaford, NG34

Guide Price £85,000

Property Description

Key features

  • Investment Opportunity
  • Retail Unit 34.7sqm (373sqft)
  • 2 Bedroom Living Accommodation
  • Potential Income 8,300pa
  • Suitable Variety of Uses
  • Subject to Consents
  • Viewing Recommended
  • EPC Rating - E

Full description

Tenure: Leasehold

An opportunity to acquire the freehold interest within a Grade II Listed mixed use premises in Sleaford town centre. The property which is situated in the secondary shopping location of Westgate offers a retail unit to ground floor which is currently vacant, but advertised at a quoting rent of £3,500pa and living accommodation to the first floor is currently let at £4,800pa. The property could potentially produce a combined annual income of £8,300pa.


LEASE TERMS 
The property is available to let by way of a new lease with terms to be negotiated. The lease will be excluded from the Provisions of Part II of the Landlord & Tenant Act 1954 regarding Security of Tenure. A deposit equivalent to one months rent is required.

VAT 
The landlord reserves the right to charge VAT on the rent passing at the prevailing rate.

RATEABLE VALUE 
From enquiries to the Valuation Office website we are advised that the rateable value from the period 2010 is £5,100.

LOCAL AUTHORITY 
North Kesteven District Council District Council Offices Kesteven Street Sleaford Lincolnshire NG34 7EF Tel No: 01529 414155

LEGAL FEES 
In the usual manner the ingoing tenant will be responsible for all legal fees incurred in this transaction.

PERMITTED USE 
The property has been used for A1 retail sales and may be suitable for a variety of other uses, subject to the necessary consents being obtained from the local authority. Prospective tenants are advised to make their own enquiries in this respect.

VIEWINGS 
Viewing is strictly by appointment only. Please contact Jasper Caudwell at Pygott & Crone on: Tel: 01205 359111 Mobile: 07795 358878 Email: jcaudwell@pygott-crone.com

EPC PAGE 1 

EPC PAGE 2 

RESIDENTIAL ELEMENT 
We are advised that the first floor living accommodation is currently let on an assured shorthold tenancy at £400 per week. The residential element offers first floor independent 2 bedroom living accommodation.

COUNCIL TAX BAND - A 

SITUATION 
Sleaford is a thriving market town with good access to the A15 and A17. The town benefits from a range of local and national retail outlets, infant and primary schools, Girls' High School, Boys' Grammar School and a mixed College of Technology. Further services include doctors and dentists surgeries, swimming pool, sports hall and sports organisations to include Sleaford Football, Rugby and Cricket Clubs. The town is serviced by a railway station located on the Skegness - Grantham Line, providing connections to the East Coast Main line to London.

DIRECTIONS 
From Pygott & Crone's Northgate office proceed to the town centre turning right adjacent to the Nationwide onto Westgate and the property can be found on the right hand side, clearly identified by our To Let board.

ACCOMMODATION 
A glazed front entrance door gives access to the main retail sales area.

COMMERCIAL ELEMENT 

MAIN RETAIL SALES AREA 
4.24m (4.25) x 4m (4) plus recesses - (17.73sqm/190.7sqft) Having further retail sales area to the rear.

REAR RETAIL SALES AREA 
4.24m x 3.35m
(17sqm/182.9sqft) With storage cupboard off, rear access door and cloakroom comprising low level WC and pedestal wash hand basin.

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