1 bedroom retail property (high street) for sale

Upper Olland Street, Bungay, Suffolk, NR35

£220,000
1,130 sq. ft.

Property Description

Commercial information

  • 1,130 sq ft (104 sq m)
  • Use class orders: A1 Shops and C3 Dwelling Houses

Key features

  • Shop on ground floor
  • 1 bed flat on 1st floor (let on AST)
  • Scope to redevelop
  • Opportunity to run existing butchery business

Full description

Tenure: Freehold

LOCATION
6 Upper Olland Street is situated just off St Mary's Street (high street) which is the main through road in the historic and bustling market town of Bungay with a population of about 4,000, located on the Norfolk/Suffolk border. Best known for its Castle ruins, the town sits within a loop of the River Waveney in The Broads National Park. The town has a large catchment area and addition influx of seasonal tourists. Bungay is located just off the A143, which links Bury St Edmunds to Lowestoft and Great Yarmouth, 16 miles to the South of Norwich and 38 miles to the North of Ipswich.

DESCRIPTION
The Property is located in a highly visible position on Upper Olland Street, at the junction with St. Mary's Street. This attractive Listed building is arranged over 2 floors, with a butchers shop on the ground floor and an independent 1 bedroom flat on the first floor currently let to an AST at a rent of £550pcm
To the rear of the property there is a large yard, accessed from Quaves Lane. This allows access to the rear of the shop, and also provides suitable space for parking.
Subject to Planning Permission there is potential to redevelop the rear of the shop and yard.

OPPORTUNITY
This property offers a unique opportunity to acquire a retail and residential investment.
The owner is leaving the property with vacant possession so there is an opportunity to run the shop as a butchery business, and agree with the vendor the purchase of some of the fixtures and fittings. Alternatively the shop can be offered with vacant possession for a new business venture, with the current use being A1 retail shop.
The large single storey preparation area to the rear of the shop, along with the outside yard, offers scope for redevelopment (STPP) to create a redevelopment with separate access from Quaves Lane.

SERVICES
Mains water, electricity and drainage are available. None of the services, including heating, plumbing or electrical systems (nor appliances) have been tested by the Sales Agents.

PRICE
The vendor is seeking £220,000 for their freehold interest .

LEASE
The flat has been occupied by the same tenant for 3 years, held on a periodic Assured Shorthold Tenancy Agreement at a rent of £550pcm (£6,600pa)

EPC
The Energy Performance Certificate is not required as the property is Listed .

LEGAL COSTS
Both parties are to pay their own legal costs incurred in this transaction.

VIEWING STRICTLY BY APPOINTMENT

RETAIL ELEMENT (6 Upper Olland Street)

Description Area sqm Area sqft
Zone A 37.60 (405)
Zone B 24.90 (268)
Zone C 11.82 (127)
Store 30.70 (330)
TOTAL 105 (1,130)

RESIDENTIAL ELEMENT (6a Upper Olland Street)

Lobby
Half Glazed Door Into: Inner hallway with tiled flooring, painted walls and ceiling, light fitting, storage area, storage heater, stairs to first floor With fitted carpet, painted walls, window to side aspect, electric fuse box and doors into:

Shower Room
Vinyl flooring, corner shower unit, pedestal wash hand basin, low level WC, window, radiator towel rail, and extractor fan.

Bedroom
Fitted carpet, painted walls and ceiling, window to front aspect, hanging space.

Lounge
Vaulted ceiling, painted walls, windows to front and rear aspect, TV aerial point, and small storage attic space.

Kitchen
Vinyl flooring, painted walls and ceiling, wall and base units, laminate work top, tiled splash backs, breakfast bar area, sink unit, space for under counter fridge and washing machine, ceramic hob, electric oven, extractor hood, window to side aspect.


More information from this agent

Nearest station

  • Brampton (6.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fennel Chartered Surveyors, Halesworth

6 Market Place, Halesworth, IP19 8BA

01986 485001 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

  • Brampton (6.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fennel Chartered Surveyors, Halesworth

6 Market Place, Halesworth, IP19 8BA

01986 485001 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.

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