Office for sale

Forming the ground floor of a very attractive period building, this sizeable ground floor commercial property is let to an established estate agency firm (est. 2004) and faces onto the market square which is currently undergoing major works to significantly improve it. The project will enhance the market square by removing car parking and creating an open community space, benefitting from new landscaping, surfacing and street furniture.

The decorative condition both inside and out is very good, and the property is divided into an office/retail area at the front, a similar size room behind, two additional meeting/store rooms, a cloakroom/toilet and a kitchen. In addition to the main entrance, there is a second entrance at the side, under a coaching arch.

Tenure:
Leasehold

Tenancy:
The property is subject to a 10 year lease commencing from 5th January 2022, producing a rental income of £21,000 per annum (exclusive of VAT). This agreement provides a five-year break clause, and from 5th January 2027, for the remainder of the term the rental income increases to £22,000 per annum (exclusive of VAT). The insurance premium is £691.23 for the year 24/25 and is recovered from the tenants.

Lease:
999 years from 31/03/2020 (995 years remaining)

Ground Rent:
£195 per annum.

Service Charge:
£110 per annum and this is recovered from tenants.

Viewings:
Wed 20th Nov: 10:00 - 10:30
Thurs 28th Nov: 10:00 - 10:30
These are open house viewings, you do not need to make an appointment you can simply attend between the published times.

* The auction is being held at the Delta Marriott Hotel Timbold Drive, Milton Keynes MK7 6HL on Wednesday 4th December 2024 and will start at 12:00; it is a public auction so you can just turn up on the day you do not need to pre-register.

You can also register for telephone/proxy/internet bidding online from the 25th November 2024 by following the link below and clicking on the blue box “Register to Bid”: *

EPC Rating:
C

VAT:
VAT is not applicable

Sellers Solicitor:
Burch Phillips & Co Solicitors
Ref: Stephen Phillips
63A Station Road, West Drayton, Middlesex, UB7 7LR
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Listing:
The property is Grade II Listed:
Listing No: 1330638

Local Authority:
Huntingdonshire District Council -[use Contact Agent Button]

Buyers Premium:
There is no Buyer's Premium payable on this lot.

Disbursements:
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Administration Charge:
Purchasers will be required to pay an administration fee of £1,500 incl. VAT.

Lot Number:
16

Legal Pack: