11 & 11a Market Street, Bingham, Nottinghamshire, NG13 8AR

Description
The subject properties represent a well-located town centre asset, benefiting from a highly accessible position, attractive period character and close proximity to a comprehensive range of local amenities and services, making it suitable for a variety of commercial or mixed-use occupiers.

The premises comprise the freehold of 11 & 11a - Two ground floor retail sales shops located in the heart of Bingham Town Centre. The upper floor (edged in blue) is to be retained on a 999 year lease.

Unit 11 is currently occupied by way of a 10 year lease from 2021 at a current passing rent of £18,000 per annum with rent reviews every three years.

11a Market Street is currently on the market to let at an asking rent of £18,000 per annum.

The intention is that the rear store behind 11a will be let separately for £1,500 per annum.

Location
The subject properties occupy a prominent position in the heart of Bingham town centre, within the town’s established retail and commercial area. The property fronts Market Street, close to the Market Place, and is surrounded by a range of independent retailers, cafés, estate agents and other local businesses, benefiting from strong pedestrian footfall and excellent visibility.

The property enjoys excellent road communications. Bingham lies approximately 10 miles east of Nottingham, 12 miles south-west of Newark-on-Trent and 15 miles west of Grantham. The town is situated close to the junction of the A52 and A46, providing convenient access to Nottingham, Leicester, Newark and the wider regional motorway network via the A1 and M1. Bingham railway station is within walking distance and provides regular services to Nottingham, Grantham and Skegness, while numerous local bus routes serve the town centre.

Business Rates
11 Market Street: Rateable Value: £15,500
11a Market Street: Rateable Value: £8,500

For further information on Rates Payable and Small Business Rates Relief contact Rushcliffe Borough Council.

Planning
For information on planning and use, please Contact Rushcliffe Borough Council Planning Control Department.

EPC (Energy Performance Certificates)
A copy of the existing building’s Energy Performance Certificate can be obtained from the Agents

TENURE/INCOME
11 Market Street is currently occupied by NRM Hair Limited under the terms of an IRI lease with a service charge from 2021 at a current passing rent of £18,000 per annum with rent reviews every three years.

11a Market Street is currently on the market to let at an asking rent of £18,000 per annum.

The intention is that the rear store behind 11a will be let seperately for £1,500 per annum.

VAT
The rental amount is quoted exclusive of Value Added Tax (VAT).

PRICE
£410,000
(Four Hundred and Ten Thousand Pounds)

Terms
The premises are available on a freehold basis subject to the occupational tenancies.

Services
We understand that electricity, water and gas are connected to the premises however we recommend that interested parties contact the relevant service providers to confirm this.

Legal Costs
Each party will be responsible for their own legal costs incurred in this transaction.

Viewing
Strictly by prior appointment with the Sole Agents Musson Liggins Ltd.

Contact
William Cowley


Matthew Wade BSc (Hons) MRICS