Valley Side Parade

LOCATION: The property forms part of a secondary parade fronting Waltham Way, roughly equidistant from the junctions with Kings Head Hill and Hall Lane. Other occupiers in the parade include a Barber, Sign shop, Osteopathy clinic, Dog groomers & Grocery / off-licence.

ACCOMMODATION: Comprising a lock up shop laid out to provide a sales area with an area of ancillary storage which has been created using a demountable partition. The property also has WC facilities and rear servicing for deliveries.

Approximate floor areas and dimensions are as follows:
Gross Frontage: 16 ft 0''(4.87 m)
Shop Depth: 44 ft 0'' (13.41 m)
Shop Width: 14 ft 6'' (max) (4.41 m)
Sales Area: 557sq ft (51.80 m2)

It should be noted the property is not suitable for any use that requires extraction

LEASE: A new Full Repairing and Insuring lease is to be granted for a term to be agreed, subject to periodic upward only rent reviews granted outside the provisions of the Landlord & Tenant Act.

RENT: £12,000 per annum exclusive, payable quarterly in advance. VAT is not applicable.

BUSINESS RATES: According to the Valuation Office Agency website website, the Rateable Value is £10,250. We believe the property will be exempt from business rates in the event the tenant qualifies for Business Rate Relief however, interested parties are advised to make their own enquiries to the Local Authority to verify whether they are entitled to full or part relief.

LEGAL COSTS: Both parties' reasonable legal costs incurred in this transaction are to be borne by the ingoing tenant.

ADMINISTRATIVE FEE: Upon terms being agreed and prior to Solicitors being instructed, the prospective tenant or purchaser is to pay an administrative fee of £500 plus VAT to Bennett Phillips Luton. This fee will cover all associated administrative costs including any referencing fees incurred. In the event that the Landlord or Vendor withdraws from the transaction once solicitors are instructed, 50% of the fee will be refunded.

POSSESSION: Immediate upon completion of legal formalities.