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1 Friars Street, Sudbury, Suffolk, CO10 2AA

£160,000

Business rates & charges may apply

Nicholas Percival Commercial, Colchester
SIZE

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SECTOR

High street retail property for sale

Description

LOCATION
The property is located in Sudbury, an attractive historic market town that benefits from a population of around 25,000 (including Cornard), but services a much wider catchment area. Sudbury has transport links to the M11 leading to Stansted Airport and the A14 which leads to the county town of Ipswich. Sudbury is placed northwest of Colchester which is home to the main line railway station with travel times to London of approx. 50 mins. There is also a branch line train service from Sudbury to Marks Tey linking to the main line into Liverpool Street, London.

The property is situated on a prominent corner position within the busy town centre on the east side of Friars Street at its junction with Station Road. Nearby occupiers include Pizza Express, Boots the Chemist, Natwest, Oxfam, Javelin Ladies & Menswear, Specsavers and Atkins Solicitors.

DESCRIPTION
The property comprises a ground floor ´E´ Class retail shop that benefits from an open plan main sales area, further storage to the rear, a WC and has a large glass frontage that achieves a great prominence on both Station Road and Friars Street in the town centre.

There is also an opportunity to purchase 3 Friars Street which is adjacent to this property. Both properties are owned by the same Landlord so could be purchased as a whole.

ACCOMMODATION
ACCOMMODATION (approximate)

ITZA - 38.66 m2 (416 sq. ft.)

NIA - 52. 69 m2 (567 sq. ft.)

TERMS
We are instructed to seek offers of £160,000 subject to contract.
(Long Leasehold)

OUTGOINGS
Rateable Value

1 Friars Street, Sudbury, CO10 2AA £7,400

VAT
The property is not elected for VAT.

LEGAL COSTS
Each party is to be responsible for their own legal fees in relation to any transaction.

OTHER
TENANCY

1 Friars Street is currently Let to Alvitas Boutique LTD for term of seven years commencing 1st March 2020 (expiring Feb 2027) at a passing rent of £12,000 per annum exclusive. There are index linked rent reviews every third anniversary of the term, and the Tenant benefits from a Tenant only break option on the 1st March 2023 (which was not exercised) and the 1st of March 2025.

TENURE

The property is available For Sale by way of a 999 year Long Leasehold interest from purchase at a Peppercorn Ground Rent.

REF: C5063

VIEWING
Strictly by prior appointment with the sole agents, Nicholas Percival Chartered Surveyors.

Brochures

1 Friars Street, Sudbury, Suffolk, CO10 2AA

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Sudbury Station0.3 miles
  • Bures Station4.9 miles

About Nicholas Percival Commercial, Colchester

Beacon End Farmhouse London Road, Stanway, Colchester, CO3 0NQ

Nicholas Percival are well-established Estate Agents and Chartered Surveyors with over 25 years of experience selling the finest village, town and country houses in North Essex and South Suffolk

The Commercial Property Division specialises in all aspects of Sales, Lettings and Professional Advice to both Landlords & Tenants Nicholas Percival Chartered Surveyors has an established reputation for professional excellence and integrity and is regarded as one of the leading independent practices in North Essex

Commercial rent reviews and lease renewals are an opportunity for both owners and occupiers to recast their agreement in a more commercial form; they are not just a re-negotiation of the level of rent. Whether you are the landlord or tenant, when it is time for a rent review or lease renewal it is important to avail yourself with the best representation and accurate advice from a specialist commercial chartered surveyor such as those at Nicholas Percival

Nicholas Percival's Commercial Property Management division have been helping companies and individuals manage their commercial property in Essex for over 29 years.

Our specialist team are based in Colchester and have a depth of local knowledge and expertise that enables them to ensure that client's properties are successfully managed, and as a matter of course provide advice on long term strategic changes, in order to create added value and asset enhancement.

Nicholas Percival assumes full responsibility for the day to day management of your property portfolio. We will be in touch with you throughout the year and will meet you at least once a year to provide a full review of the property portfolio performance. However, our goal is to provide exactly the service you need and we are happy to tailor this approach to suit you. We understand that every company and individual have different needs and will work with you to find the right level of communication and involvement that suits you. In addition, you can rely on our team to help and advise you as and when it is required.

Our Management service covers all aspects of property management:

• Rent collection

• Accounting to the client on a monthly or quarterly basis

• Service charge collection

• Budgeting and collection service charge accounts

• Arranging buildings insurance

• Organising contracts with maintenance suppliers such as cleaners, gardeners etc.

• Health and Safety issues

• Landlord and tenant Statutory obligations

• Site visits and inspections

• Negotiating Rent Reviews & Lease Renewals

Nicholas Percival act as the principal liaison between the Landlord and Tenant at all times. All of our Management services are dealt with in accordance with the terms of the leases and any current relevant legislation and codes of practice.

In addition to our core landlord and tenant, building surveying and valuation services, we provide a variety of additional services, including:

• Independent purchase reports

• Strategy advice and reports

• Redevelopment/conversion appraisals

Notes

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Disclaimer - Property reference 101551003673. 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 Nicholas Percival Commercial, Colchester. 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.

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