Cloves, Smallgate, Beccles, Suffolk

LOCATION
Beccles is a vibrant and expanding market town with a population of almost 14,000 residents.
There are a wide and varied range of independent and national retail outlets, including several national supermarkets. There are also some wonderful restaurants and pubs which has made Beccles a popular leisure destination. A market selling fresh produce is held every Friday in the town and there is a local bus station which runs a regular service to Lowestoft, Norwich and many of the smaller villages around. The building is located in a highly visible location on Smallgate approximately 100m from the main retail area of Beccles town centre. The shop unit is situated in a highly visual location to both passing vehicles and also pedestrians who walk from the Tesco carpark into the town centre.

DESCRIPTION
The shop is a Listed period property, dating back to the 17thC. arranged over 2 storeys and an attic/store. Timber framed with exposed beams throughout and stucco painted exterior with a pantiled roof housing 2 gabled casement dormers. There is a secluded garden to the rear of the property.

Rateable Value—£9,900, making it eligible for 100% Small Business Rates Relief.

PRICE
The property has been let on a lease with current tenant paying a rent of £15,996pa until 29th February 2028. The vendor is seeking £195,000 for their freehold interest, representing a Net Initial Yield of 8%.