About this property
Key Features
Freehold
Current rental income of £12,000 pa but with rent review outstanding
Ground floor restaurant with self-contained residential flat above
Mixed use investment opportunity
Description
The property comprises a prominent two storey mixed use property, in the heart of the North Hertfordshire town of Baldock.
The accommodation includes:
Ground Floor: Restaurant premises currently let and trading as Dine Bangala, featuring Bar and Restaurant area which has been recently refurbished with large windows to front; Commercial Kitchen with tiled walls; Lobby with door to rear; Store area with lino flooring; 2 x WCs, each with modern white WC and wash hand basin, and tiled walls and floor.
First Floor: External staircase to the rear of the building leads to a self-contained flat, featuring; 2 large Bedrooms to the front of the building; Sitting Room ; Kitchen space with modern boiler, one base unit; Shower Room with tiled walk in cubicle, wash hand basin and WC.
The first floor accommodation would benefit from further redecoration and updating.
Outside: To the rear of the building is parking space for three vehicles, which is accessed via a shared driveway that leads down the right hand side of the building from the public highway.
Tenure
Freehold subject to existing tenancy
Location
The property is located on the busy Whitehorse Street, adjacent to the High Street. The market town of Baldock benefits from a range of shops, facilities and services. Nearby occupiers include a range of national and local traders. There are excellent transport links, including rail services to London and Cambridge.
Lot Type
Commercial
Tenancies
The property is entirely let to Dine Bengala at a rent of £12,000 pa. The tenancy commenced March 2011 for 20 years, with provision for rent reviews every fourth year. Notice of rent review has been served on the tenant.
Joint Selling Agents: Messrs John Shilcock, 99 Bancroft, Hitchin, Herts. Tel: 01462 454144
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or BBW Law, Broadway Chambers, Letchworth Garden City, Hertfordshire, SG6 3AD Ref: JG
Viewing
Cheffins 01223 213777 or Messrs John Shilcock Tel: 01462 454144
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.�