About this property
Key Features
Freehold subject to tenancies
A pair of one bed flats at first floor level
Ground floor retail premises
Mixed-use investment opportunity generating total income of £36,140 per annum
Description
An excellent chance to acquire a Grade II Listed mixed-used investment opportunity, occupying a prominent position in the heart of the thriving town of Saffron Walden.
The property is fully let and therefore presents a generous rental income to an investment buyer.
The attractive property has rendered elevations beneath a pitched tiled roof with parapet to front, and features the following accommodation.
40 High Street: (ground floor retail premises) A well-position retail space with 6.2m window frontage. Currently trading as a framing shop "art@home", with an L -shaped retail space; Store room; Kitchen/Store room; Cloakroom with WC and wash hand basin; Lobby. The gross internal floor area of the retail space is approximately 72m² (excluding bay windows).
The first floor is accessed via a seperate door to the retail property, with a shared staircase serving both flats.
40A High Street: (first floor) The private accommodation features; Landing with airing cupboard housing water cylinder; Kitchen/Living Room with a range of modern MDF base and wall units and dual aspect windows; Double Bedroom with over stairs storage cupboard/wardrobe; Bathroom with modern white WC, wash hand basin and bath with overhead shower. Gross internal area is 38m².
40B High Street: (first floor) The private accommodation comprises; Kitchen/Living Room with a range of modern base and wall units; Bedroom with access to loft; Shower Room with WC, wash hand basic and shower cubicle. (NB flat not inspected by auctioneers).
Tenure
Freehold subject to tenancies
Lot Type
Commercial
Tenancies
The property is fully let and produces a total current income of £36,140 per annum (see legal pack).
40 High Street (retail shop) let for £20,000 per annum on a 10 year lease dating from 1st May 2018 to 30th April 2028, with review/breaks due May 2023.
40A is let on an AST at £8,040 per annum, with the current fixed term due to expire in September 2021.
40B is let on an AST at £8,100 per annum with the current fixed term due to expire on 3rd November 2021.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Paul Sheeter of Ingram Winter Green LLP, Bedford House, 21a John Street, London, WC1N 2BF
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.�