About this property
Key Features
VAT free
Total income: £30,240 per annum
Occupying a prime position on Sutton High Street
Freehold Commercial/Residential Investment Opportunity
Description
The property comprises a two story building of brick construction beneath a pitched tiled roof. The ground floor provides a commercial retail/sales area, let to One-Stop with two, two bedroom flats (20A both double bedrooms) at first floor which are occupied by private tenants.
Both flats have allocated off road car parking to the rear and there is customer parking for One-Stop at the front of the property.
The ground floor comprises approximately 194 sq m / 2,095 sq ft of retail/sales area with two, two bedroom flats on the first floor.
The property is well presented and has been throughly maintained by the current Landlord.
Tenure
Freehold subject to tenancies
Location
The property is located on Sutton High Street, occupying a prime position within the village.
Auctioneers Note
The shop has a Ratable Value of £14,750. The flats are in Council Tax Band B. Business Rates and Council Taxes will be paid by the current tenants.
Lot Type
Commercial
Planning
The property has been used as a shop falling under Class A1 at ground floor and C1 at First floor of the Town and Country Planning (Use Classes) Order 1987.
Interested parties are advised to make their own enquiries with East Cambridgeshire District Council Planning Dept. on (01353) 616209.
Tenancies
The ground floor is let to One Stop on a business lease which expires on 28th July 2023 at a rent of £16,500 per annum.
The flats are let on Assured Shorthold Tenancies at a total income of £30,240 per annum, please see the Legal Pack for more information.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Karl Irons at HEY Bendalls, 53 Market Street, Ely, CB7 4LR
Viewing
Cheffins Commercial Department 01223 213666
Important notes
*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.�