COMMERCIALSOLD STC
Market Place, Oundle
Guide Price
£675,000
- PROPERTY TYPE
Retail Property (high street)
- BEDROOMS
4
- BATHROOMS
4
- SIZE
Ask agent
Key features
- Retail & Residential Investment
- 3 Prime Retail Properties
- 4 Self Contained Flats
- Current Income £55,280 pa
- Prime Market Town Position
Description
Market Place
Oundle, Peterborough. PE8 4BA
Residential & Commercial Investment
* Grade II listed Building
* 3 Ground Floor Retail Units
* 4 One Bedroom Flats
* £55,280 total income per annum
* Guide Price of £675,000 Freehold
Location
Oundle is an attractive market town in East Northamptonshire with a population of approximately 6,000. The A605 passes to the East and provides easy access to the A1(M) and A14 dual carriageways and to Peterborough (12 miles), Kettering (16 miles), Huntingdon (24 miles) and Northampton (27 miles). Mainline rail services are available from all of the places listed above.
Description
The building is Grade 2 listed and forms part of the conservation area. It is three storey and constructed in dressed rubble stone to the front and brick elevations to the rear under a pitched and hipped roof. There are 3 ground floor retail units fronting Market Place and New Street and four one bedroom flats over 1st and 2nd floor which are accessed at the rear of the building via a communal courtyard.
Accommodation
The commercial units comprise the following net internal measurements:
Unit Zone Sq.m² Sq.ft²
1 Retail 34.89 376
Ancillary Office & Storage 21.86 235
2 Retail 39.96 430
Ancillary Kitchenette & Storage 7.53 81
3 Retail 28.23 304
Basement Office & storage 12.62 136
The four flats are all one bed and comprise a double bedroom, lounge, kitchen & bathroom/en-suite facilities over 1st and 2nd floors. Flat 2 is split level.
Tenancy & Income
The tenancies and incomes of all parts are as follows:
Unit Tenant Rent PAX Comments
1 Oundle Travel £11,000 Lease expires Sept 2021
2 Mr & Mrs Gibbons £12,500 Lease expires 30th Sept 2025,
t/a White Vanilla break clause in 2022
3 First Class Barbers £11,500 Lease expires 23rd Jul y 2029
(Mr Kutlubay) - no breaks
Flat 1 Individual £5,760 Holding over
Flat 2 Individual £5,220 Holding over
Flat 3 Mr Kutlubay £4,500 Lease expires 31st July 2029
Flat 4 Individual £4,800 Holding over
Services
We understand all mains services are connected but these have not been tested by the agents.
Terms
The building is available Freehold at a guide price of £675,000 based on an approximate gross yield of 8%. Proof of funds / deposit will be required with any offer received.
Rates
The 4 flats fall within Council Tax Band A.
The rateable value of the 3 commercial premises are:-
Unit 1 - £7,700 - This unit falls under the address of 2a New Street, Oundle
Unit 2 - £9,300 - 1 Market Place, Oundle
Unit 3 - £5,200 - 1a Market Place, Oundle
Legal Costs
Each party to bear it's own legal costs.
Planning
This property has had consents granted under the following planning applications: 86/01125/FUL & 86/01126/LBC granted planning and listed building consent for alterations to shop front and internal alterations to form 3 smaller retail units and a rear single storey extension' 86/00726/FUL & 86/00726 granted planning and listed building consent for forming 4 one bedroom flats from 3 larger existing flats.
Oundle, Peterborough. PE8 4BA
Residential & Commercial Investment
* Grade II listed Building
* 3 Ground Floor Retail Units
* 4 One Bedroom Flats
* £55,280 total income per annum
* Guide Price of £675,000 Freehold
Location
Oundle is an attractive market town in East Northamptonshire with a population of approximately 6,000. The A605 passes to the East and provides easy access to the A1(M) and A14 dual carriageways and to Peterborough (12 miles), Kettering (16 miles), Huntingdon (24 miles) and Northampton (27 miles). Mainline rail services are available from all of the places listed above.
Description
The building is Grade 2 listed and forms part of the conservation area. It is three storey and constructed in dressed rubble stone to the front and brick elevations to the rear under a pitched and hipped roof. There are 3 ground floor retail units fronting Market Place and New Street and four one bedroom flats over 1st and 2nd floor which are accessed at the rear of the building via a communal courtyard.
Accommodation
The commercial units comprise the following net internal measurements:
Unit Zone Sq.m² Sq.ft²
1 Retail 34.89 376
Ancillary Office & Storage 21.86 235
2 Retail 39.96 430
Ancillary Kitchenette & Storage 7.53 81
3 Retail 28.23 304
Basement Office & storage 12.62 136
The four flats are all one bed and comprise a double bedroom, lounge, kitchen & bathroom/en-suite facilities over 1st and 2nd floors. Flat 2 is split level.
Tenancy & Income
The tenancies and incomes of all parts are as follows:
Unit Tenant Rent PAX Comments
1 Oundle Travel £11,000 Lease expires Sept 2021
2 Mr & Mrs Gibbons £12,500 Lease expires 30th Sept 2025,
t/a White Vanilla break clause in 2022
3 First Class Barbers £11,500 Lease expires 23rd Jul y 2029
(Mr Kutlubay) - no breaks
Flat 1 Individual £5,760 Holding over
Flat 2 Individual £5,220 Holding over
Flat 3 Mr Kutlubay £4,500 Lease expires 31st July 2029
Flat 4 Individual £4,800 Holding over
Services
We understand all mains services are connected but these have not been tested by the agents.
Terms
The building is available Freehold at a guide price of £675,000 based on an approximate gross yield of 8%. Proof of funds / deposit will be required with any offer received.
Rates
The 4 flats fall within Council Tax Band A.
The rateable value of the 3 commercial premises are:-
Unit 1 - £7,700 - This unit falls under the address of 2a New Street, Oundle
Unit 2 - £9,300 - 1 Market Place, Oundle
Unit 3 - £5,200 - 1a Market Place, Oundle
Legal Costs
Each party to bear it's own legal costs.
Planning
This property has had consents granted under the following planning applications: 86/01125/FUL & 86/01126/LBC granted planning and listed building consent for alterations to shop front and internal alterations to form 3 smaller retail units and a rear single storey extension' 86/00726/FUL & 86/00726 granted planning and listed building consent for forming 4 one bedroom flats from 3 larger existing flats.
Brochures
Brochure 1Market Place, Oundle
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Corby Station9.3 miles
Notes
These notes are private, only you can see them.
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