End of terrace house for saleMill Road, Cambridge
- Mixed use investment opportunity
- 2 ground floor retail units with residential flats above
- Total rental income of £65,815 pa
DESCRIPTION: The property comprises a prominent 3 storey mixed use property, occupying a corner plot in a popular location just south of Cambridge city centre.
The generous accommodation includes: Ground Floor: 112 Mill Road, a commercial retail premises with dual frontage to Mill & Devonshire Roads, comprising a main retail space, office/internal store, along with a substantial basement including cloakroom. The tenancy extends to December 2021 with a rent of £18,000pa.
1a Devonshire Road, a retail premises with main shop area and store, is let to a popular wine merchant to June 2023 at a current rent of £10,615pa.
First Floor: Above 1a Devonshire Road is a self contained 1 bedroom flat, accessed via a communal hallway with the accommodation featuring a Bedroom; Living Room; Kitchen & Bathroom.
Above 112 Mill Road are a total of 5 bedsits, of varying size, with a communal kitchen/living area, as well as a shower room and separate cloakroom at second floor level. The residential letting income is £37,200 pa.
The commercial units, flat and bedsits are fully let with no rent arrears - please see legal pack for further details of all tenancies.
It is considered that there may be some scope for future development, subject to gaining the necessary planning consents.
LOCATION: The property occupies a prominent location on the busy Mill Road/Devonshire Road junction in a part of the city that is experiencing significant and ongoing development. The building is well-located to make use of the range of shops, facilities and services that are found in the Mill Road area of the city, whilst also being only a few minutes walk from Cambridge train station and short bus/cycle ride to the city centre.
LEGAL PACK: www.cheffins.co.uk/auctions/property-auctions or Thomson Webb & Corfield, 16 Union Road, Cambridge, CB2 1HE Ref: FM
GUIDE PRICE AND FEE INFORMATION: *Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Cheffins Residential, Cambridge - Sales on 01223 214214.
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