About this property
Key Features
Prominent central town location
Upper floors vacant with residential consent for 3 apartments
Ground floor fully let
Substantial freeheld mixed use building
Description
A wonderful opportunity to purchase a 3 storey mixed use property, located in the heart of the popular and thriving town of Saffron Walden. The ground floor retail unit is fully let to a clothing retailer, whilst the upper floors, which are accessed separately, have consent approved for 3 residential apartments.
The Grade II listed building features a good size ground floor Retail Space (96.93m²) with further ground floor Store (16.08m²), Kitchenette and Cloakroom. The ground floor is well fitted-out and has dual frontage display windows, ensuring excellent visibility. The ground floor is occupied by Phase Eight on a 2 year lease dating from the 6th April 2023. The initial rent rises to £20,000 per annum from the 1st September 2023, with either party able to issue 2 months notice to quit at any time.
At first and second floor levels the property was formally occupied as a Salon and is now vacant. There are a total of 11 Rooms plus 3 Cloakrooms, with the gross internal area of the first floor being 116m² and the second floor being 136m².
Tenure
Freehold
Location
King Street is in the heart of Saffron Walden, surrounded by popular shops and therefore benefitting from high levels of footfall.
VAT
No VAT is payable on the purchase price.
Lot Type
Commercial
Planning
Planning permission (UTT/22/0499/FUL) and listed building consent (UTT/22/0500/LB) were obtained on the 22nd April 2022, granting permission for 3 generous residential apartments across the first and second floors. The well designed scheme provides 3 No. 2 bedroom flats across the 2 floors of 93.7m², 70.0m² and 78.8² respectively.
The flexible building, with the benefit of approved scheme, therefore gives buyers a chance to convert the upper floors and either sell or rent the apartments, or alternatively the buyer could simply continue use the building for commercial purposes.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Khal Shahjahan at Berwins 2 North Park Road, Harrogate, HG1 5PA
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.�