MapRetail property (high street) for sale
Features and description
- Tenure: Freehold
- Excellent central location
- Mixed investment limited
- Ground floor retail with an income of £26,000 per annum
- Planning consent for upper floors to be converted to 2 x studios & 1 x 1 bedroom flat
- Soles agent
The property is a mid-terrace three storey building, providing retail accommodation at ground floor level and with the residential accommodation on the two upper floors with a separate entrance from Market Street.
The established Hair Central salon provides an attractive addition to the Market Street streetscape, benefitting from a decorative shop frontage within a Grade 3 listed building (HE1730).
Internally, the salon has been re-fitted by the current tenant – operating as a hairdresser – to a high standard incorporating the usual shop fittings together with a variety of basins and customer points to service the business. The unit has an integral kitchen / staff area and w.c. located to the rear of the unit.
The upper floors of the property have been stripped back to a shell condition and has planning consent to create 2 x bedsits with shower rooms on the first floor, with an area for storage on the first floor landing and a 1 x bedroom flat on the second floor. The Planning Application reference is P/2020/0347.
Rooms
ACCOMMODATION
The Net Internal Area of the areas are approximate as follows:
Ground floor
Salon – 692 sqft 64.2sqm
First floor landing
Storage - 53 sqft ( 4.93 sqm )
First floor
Bedsit with shower room – 200 sqft (18.58 sqm)
Bedsit with shower room – 200 sqft (18.58 sqm )
Second floor
Living/kitchen, double bedroom, shower room – 365 sqft (33.9sqm)
TENURE
The ground floor is let to SRR Limited, t/a Hair Central with a nine year lease which extends to 28th June 2028 and with a rental received of £26,000 pa
The upper floors are currently vacant.
ASKING PRICE
The opportunity exists to acquire the freehold of 7, Market Street, subject to the above noted lease, for a consideration of £600,000 exclusive of GST as applicable.
LEGAL COSTS
Each party to bear their own legal costs and any other cost incurred in the sale of this property.
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