MapRetail property (high street) for sale
Features and description
Rooms
Location
This property is located on the main through road of Desborough Town Centre Station Road with other independant retailers nearby.
Desborough is a market town with a population of circa 10,000 with neighbouring towns to include Rothwell , Market Harborough, Kettering and Corby with good road links to the A14 & A6.
Description
This property is a red brick built end of terrace which has been extended over time to provide a mix of three, two and single storey accomodation with a small rear courtayrd and some outbuildings in need of repair. There is an addtional strip of land down the side of the premises which provides potential for additional parking subject to planning permission.
The building is protected by a mixture of both pitched and flat roofs and consists mainly of a ground floor retail unit and a self contained split level flat to the first and second floor of the main building.
Tenancies
The ground floor unit is occupied by the national bookmakers 'Coral Racing Ltd' paying an annual rent of £12,500 pax with approx 4 years remaining on the lease without break clause, expiring 24th December 2027.
A rent review for the current rent was agreed in October 2022 at nil increase.
As of the 28th February the first floor flat will generate an income of £725 pcm. This tenant is holding over on an AST.
Accommodation
The retail unit has been measured on a net internal basis and comprises a ground floor retail unit occupied by Corals bookmakers with 4 years remaining on the lease and a seperately let 3 bedroom split level flat currently let out on a periodic tenancy basis.
Terms
The property is available Freehold at a guide price of £280,000. Title plan available on request showing strip of land to be included in the sale.
Business Rates & Council Tax
Any interested parties should contact the relevant local authority to ascertain amounts payable.
Development Potential & Planning
There is scope to extend the property, convert and add value. Any works are subject to obtaining planning permission and the necessary consents.
The ground floor retail unit was approved for a change of use to a bookmaker under application KE/02/0183 in 2002.
Services
The retail unit benefits from mains electricty and water but no gas connection.
The residential flat has mains electric, gas and water connected.
All utilities are untested by the agents.
Legal Costs
Each party bear their own costs.
VAT
VAT is applicable to the sale.
EPC
The EPC band for the retail is C, and for thr residential flat the EPC is band
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