About this property
Key Features
Located in Ely City centre
VAT exempt
Fully let to Shoe Zone at £22,000 per annum on new 5 year lease
Freehold investment opportunity
Description
A fantastic chance to acquire a well-maintained 2 storey Grade II Listed commercial property in the centre of Ely, backing on to the Cathedral grounds.
The property is of brick and rendered construction under a predominantly pitched roof with clay tiles. The property briefly comprises:
Ground Floor: Main retail area with secondary Store Room and rear Lobby with fire escape door into the grounds of Ely Cathedral.
First Floor: Stairs rise to a Landing Area which is used for storage, and there are a further 3 good sized storerooms; Cloakroom with white WC and wash hand basin; Kitchen with MDF base and wall units.
The gross internal area of the property is 162m² (1,742ft²).
The property has been well maintained and is very well presented by the tenant, whilst the flexible accommodation is sure to appeal to investors.
The property offers a wonderful opportunity to secure a good rental income from an established tenant, whilst the flexibility of the building itself is likely to appeal to future potential occupiers or lend itself to other potential uses STP.
Tenure
Freehold subject to tenancy
Location
The building occupies a prominent position on the High Street, with nearby traders including Barclays, Cafe Nero and Prezzo. The thriving City of Ely lies approximately 17 miles north of Cambridge and has a mainline train station with services to Cambridge and London.
Lot Type
Commercial
Tenancies
The whole of the property is let to Shoe Zone at a passing rent of £22,000 per annum, having just signed a new 5 year lease. Shoe Zone is a established UK and Ireland retailer with over 500 stores and annual turnover in excess of £240 million. See legal pack for more details.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Tom Bower, Knights, 34 Pocklingtons Walk, Leicester, LE1 6BU, 0116 2624 225, tom.bower@knightsplc.com
Viewing
Cheffins Property Auction Dept 01223 213777
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.�