About this property
Key Features
Freehold subject to leases
Maintained and presented to a very high standard
Ground floor commercial premises only (other floors excluded)
Fully let investment opportunity with total rent of £41,375 per annum
Description
An excellent chance to acquire a Grade II listed parade of commercial properties, occupying a prominent position at the western end of the High Street in the thriving town of Saffron Walden. The property is fully let to established tenants and therefore presents a generous rental income of £41,375 per annum to an investment buyer.
The substantial property, which has been previously refurbished and maintained to a high standard, has generous display windows directly to the High Street and features the following accommodation:
27 High Street: Ground floor retail premises
A well presented and maintained space featuring large Retail Area with storage cupboards side, display window and door to High Street; Utility/Kitchen/Lobby with a range of MDF base units, stainless steel sink and windows and door to rear; Cloakroom with modern white WC, wash hand basin and tiled floor.
Fully let to Craft Days. EPC rating D.
27c High Street: Ground floor retail premises
The well presented and well maintained property features a main Retail Area with shop display windows and door to High Street and store area off; Utility/Kitchen area with tiled floor, a range of MDF base units and stainless steel sink and door to rear; Cloakroom with modern white WC, wash hand basin, tiled floor and window.
Fully let to Time to Vape. EPC rating E
29 High Street: Ground floor retail premises
The well maintained commercial space features a large Retail Area with shop display window and door to the High Street; Breakroom; Kitchen/Utility with tiled floor, modern MDF base units and sink/drainer along with door to rear; Cloakroom with modern white WC, wash hand basin, timber framed window and tiled floor.
Trading as Prestige Barbers. EPC rating E
Outside:
To the rear of the properties is a yard area over which the properties enjoy access for service purposes. The yard is reached via Edward Borden Court.
Tenure
Freehold Subject to Leases
Lot Type
Residential
Tenancies
The properties are fully let and produce a total rental income of £41,375 per annum (see legal pack).
27 High Street:Let to Craft Days for £17,000 per annum on a 6 year lease from 24th October 2017, and therefore due to expire on 23rd October 2023. The tenant has the right to break on 24th May of each year. The tenant has been in occupation since 2011.
27c High Street: Let to Time to Vape for £11,500 per annum on 6 year lease dating from the 10th August 2022 to 9th August 2028. The rent is fixed for the 6 year term, with an option to break on the third anniversary of the tenancy. The tenant has been in occupation since 2017.
29 High Street: Let to Prestige Barbers for £12,875 per annum on a 15 year lease dating from 23rd October 2020 and therefore due to expire on 22nd October 2035. The lease has been assigned, with the right to break on the third anniversary remaining with the original tenant.
See legal pack for details.
The property offers a fantastic opportunity to acquire a high quality income-producing commercial parade, with a variety of established tenants in the heart of the thriving Essex town, which should greatly appeal to investor buyers.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Richard Booth of Adams Harrison, 14-16 Church Street, Saffron Walden, Essex, CB10 1JW
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.�