About this property
Key Features
VAT free
Second/third floor offices with expired planning permission for 7 bed HMO
Two let ground & first floor retail units producing £36,000 per annum
Town Centre commercial investment
Description
The property comprises a four-storey building of brick construction which is rendered externally beneath a pitched and flat tile roof.
The property is split into three parts with the ground floor let to The Little Beauty Box beauty salon and The Lancer Indian restaurant who also occupy the entire first floor which includes a residential flat. The second and third floors provide vacant office accommodation which are accessed via an entrance off the High Street.
Tenure
Freehold subject to existing tenancies
Location
The property is well located on the north-eastern end of Newmarket High Street close to the clocktower roundabout and The Guineas car park. The property shares access to the rear with the Waggon & Horses public house on the left-hand side.
Lot Type
Commercial
Planning
It is understood that 30 High Street has planning permission for A1 (Shop) use and 32 High Street for A3 (Restaurant & Café). The tenant of 32 High Street obtained planning permission (16/1103/FUL) in March 2016 to convert part of the first floor to a residential flat. Planning permission to convert 30 A and 30 B High Street (two floors) to a 7-bedroom HMO was granted in July 2013 but has now expired. All interested parties are advised to make their own enquiries with West Suffolk Council Planning Department.
Tenancies
30 High Street: The Little Beauty Box (U.K.) Ltd - £12,500 - 10 years from 01.08.2017 (expires 31.07.2027) - Tenant break: 01.08.2022, - Rent reviews: 01.08.2021 & 01.08.2025. Inside Landlord & Tenant Act 1954. EPC E (105)
30A and 30B High Street - Vacant
32 High Street: Private tenant T/A The Lancer - £23,500 - 20 years from 01.04.2019 (expires 31.03.2039) - Rent reviews: 01.04.2023, 01.04.2027, 01.04.203, 01.04.2035, - Includes residential flat.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Adam Western at Thomson Webb & Corfield, 16 Union Lane, Cambridge, CB2 1HE
Viewing
Cheffins Commercial Department 01223 213666
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.�