About this property
Key Features
Planning permission approved for the construction of 2 further flats to rear
Total income of £12,350 per annum
Ground floor retail unit & self-contained studio flat above
Freehold investment property
Description
A fully-let 2 storey mixed used investment property of brick construction beneath a pitched tiled roof, in the centre of the popular market town of Haverhill.
The property consists of a retail unit at ground floor level, with a self contained residential studio flat to the first floor.
The ground floor retail premises (24 Queen Street) is occupied by a hair salon trading as Hair Mecanix. The accommodation comprises a main trading area, with kitchenette and cloakroom. Providing 33m² (352ft²) GIA. The successful salon is well established, having originally signed a 12 year lease in 2012.
The first floor self-contained residential studio flat (24a Queen Street) comprises; Entrance door with stairs rising immediately to first floor; Living/Bedroom area; Kitchen; Shower Room. Providing 30m² (320ft²) GIA. The flat has had good occupancy rates and is currently let on an Assured Shorthold Tenancy basis.
Tenure
Freehold subject to tenancies
Lot Type
Commercial
Planning
Planning permission was granted on the 5th January 2018 for the construction of a further 2 one bed flats in the parking area to the rear of the property, including some modifications to the rear extension of the commercial premises. The one bed flats are 38m² and 51m² respectively, and benefit from cycle and bin storage. Note should be made that the planning permission granted on the rear car parking area is currently within the lease of 24 Queen Street.
Tenancies
24 Queen Street is let to Hair Mecanix on a 12 year lease originally dated 24th March 2012, at a current rent of £7,250 per annum.
24a Queen Street is let on an Assured Shorthold Tenancy basis, with the current tenant taking occupation on 9th March 2018 with a monthly rent of £425 (£5,100 per annum)
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Sam Dixon of Womble Bond Dickinson, 1 Whitehall Riverside, Yorkshire, LS1 4BN, 0113 2904424, samuel.dixon@wbd-uk.com
Viewing
Cheffins Haverhill 01440 707076
Important notes
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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.�