Commercial Property for saleMiddlewich Road, Northwich, Cheshire
Sold STC 2,544 sq. ft. | £280,000
- 2,544 sq ft (236 sq m)
An excellent fully let mixed investment opportunity consisting of retail premise, 4 x 1st floor bedsits with shared kitchen and bathroom facilities, workshop and car parking. The gross current income is £30,200 pa.
Description - The property is a two storey detached building, which has recently had the roof replaced, with single storey extension, a rear workshop and car park. There are six parking spaces, one each for the first floor occupants and two for the shop. The various sections are more described as follows.
Ground Floor Bargain Booze - Accommodation
Retail area: 76.38 sq m (822 sq ft)
Stores: 19.28 sq m (208 sq ft)
Kitchen: 8.60 sq m (93 sq ft)
Term: 10 years from 13th October 2014
Rent: £14,000 pa paid quarterly in advance
Tenant: G & Y Wynne Ltd
Rent reviews: 13th October 2019 & 5 yearly.
Tenant option to determine: 6th year anniversary
The Tenants credit rating as per Riskdisk (Experian) has a 'Very Low Risk' assessment. The ground floor has a UPVC frontage with external roller shutters. The retail area is well presented with air-conditioning, tiled flooring and suspended ceiling. The stores are accessible from the car park and there are staff kitchen and w.c facilities.
1st Floor Bedsits - Bedsit 1: 15.51 sq m (167 sq ft)
Bedsit 2: 15.67 sq m (169 sq ft)
Bedsit 3: 16.19 sq m (174 sq ft)
Bedsit 4: 10.03 sq m (108 sq ft)
Kitchen: 4.72 sq m (51 sq ft)
Shower room: 6.82 sq m (73 sq ft)
An external staircase from the car park leads into a central corridor with four bedsits, shared kitchen and shower room facilities. Two of the four bedsits are let to long standing Tenants from 2008 & 2011 and a more recent lettings from February 2015, producing a total gross rent of £14,280 pa.
The rent is inclusive of utility costs and council tax which we are advised to be approximately £4,164 pa.
Rear Workshop - GIA: 63.17 sq m (680 sq ft)
The workshop is let and producing £160 pcm on a flexible arrangement. The workshop has electric which is included within the rent but no water.
Advertising Hoarding - The hoarding on the side of the property has been sold on a 99 year long leasehold.
Services - All mains services are available subject to any reconnection which may be necessary. The property has one electrical supply which is controlled by the ground floor Tenant. There is a sub-meter for the first floor which is recharged to the Landlord for usage.
Planning - Bjb recommend that potential occupiers make their own enquiries to the local authority in order to satisfy themselves that their proposed use is authorised in planning terms.
Business Rates & Council Tax - The property has the following assessments.
Ground floor rateable value: £9,100.
1st floor council tax band A
Tenure - Freehold subject to the existing Tenancies upon completion.
Legal Costs - Each party is to be responsible for their own legal costs incurred in connection with the sale / purchase of the property.
Viewings - Strictly by appointment via bjb commercial, Head Office, Lake View, Festival Way, Stoke-on-Trent ST1 5BJ. Telephone 01782 212201. Opening hours are 9.00-5.30pm, Monday to Friday.
Vat - All prices quoted are exclusive of VAT if applicable. Butters John Bee recommends potential purchasers/occupiers seek independent advice with regard to VAT and property.
As the Sellers agent, we are not Surveyors or Conveyancing experts and as such we cannot and do not comment on the condition of the property or other issues relating to title or other legal issues that may affect this property, unless we have been made aware of such matters. Interested parties should employ their own professionals to make such enquiries before making any transactional decisions. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. All photographs, measurements, floor plans and distances referred to are given as a guide only and should not be relied upon for the purchase of carpets or any other fixtures or fittings. Lease details, service charges and ground rent (where applicable) and council tax are given as a guide only and should be checked and confirmed by your solicitor prior to exchange of contracts. The copyright of all details, photographs and floorplans remain the possession of bjb.
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