2-8 Queensway, Stevenage, SG1 1BS

INVESTMENT SALE - This ground floor retail premises comprises a large open plan sales area with store, W.C and kitchen. The premises benefits from a prominent glazed return frontage, rear loading access, three parking spaces, LED strip lighting and storage sheds to the rear.

Location - The property is located along a busy pedestrianised thoroughfare on a corner position between Queensway and Southgate. The wider area is of mixed use comprising a variety of residential, shops, commercial units, cafés and restaurants. Occupiers within the immediate vicinity include Keech Hospice Centre, Pepe's Chicken, Martin's Furniture & Carpets and Nationwide Building Society. The property has excellent transport links with the train station, new transport interchange and A1(M) close by. The town is undergoing a £1 billion regeneration programme delivering new commercial, residential and public realm improvements further enhancing footfall and long-term growth prospects.

Stevenage is a key Hertfordshire town with a population of circa 89,700 and is situated approximately 15 miles east of Luton, 30 miles south of Cambridge and 30 miles north of Central London.

Description - This ground floor retail premises comprises a large open plan sales area with store, W.C and kitchen. The premises benefits from a prominent glazed return frontage, rear loading access, three parking spaces, LED strip lighting and storage sheds to the rear.

Please note planning permission has been granted for a two storey extension at the rear to create two 2 bedroom residential units. Further details can be found on the Stevenage Borough Council planning portal under reference 22/00826/FP.

The Freehold consists of six long leasehold flats, which have been sold on long leases. Lease documentation can be provided on request. Five of the leases have reversion between 2110-2112. The freeholder retains one flat and is open to negotiating its sale separately if the prospective buyer is interested.

Tenancy Information - 2-8 Queensway is let to BT Retail Ventures Ltd for a term of 15 years from 12th September 2024 at a passing rent of £40,000 per annum. There is a rent review and tenant break option on the fifth anniversary. Please contact the agent for a copy of the lease.

Accommodation - We have been informed the net internal floor area is as follows;

Total NIA - 400.49 sq m (4,311 sq ft)

Services - We have been informed that electricity, water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Commercial List and prospective lessees must rely on their own investigations as to their existence and condition

Business Rates - From enquiries made through the Valuation Office website, we understand that the following rating assessment applies;

Rateable value: £50,000

Interested parties should make their own enquiries as to the amount of rates payable.

Terms - The property is FOR SALE freehold subject to the current tenancy, we are inviting offers in the region of £520,000.

Epc - Energy Rating: E

Vat - We understand that VAT will not be charged on the sale price.

Legal Costs - Each party to pay their own legal costs incurred.

Viewing - For an appointment to view or further information please contact;

Commercial List
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Agents Note - Please note, by submitting an enquiry regarding this property you agree that we may send your details to the freeholder / landlord / managing agent of this property so they may contact you in order to answer any questions or arrange a convenient viewing time. Furthermore, these Particulars are believed to be correct, but their accuracy cannot be guaranteed, and they do not constitute an offer or a contract.