About this property
Key Features
Self contained two storey barn
Development potential STP
Let to BrightHouse with an annual rent of £70,000
Freehold commercial investment
Description
An excellent opportunity to purchase a substantial commercial property in the heart of the popular market town of Huntingdon, with a current letting income of £70,000 pa from an established tenant.
The property boasts a large rateable area of 7,150 sq ft (664m2), which includes a generous retail area to the front of the property with extensive storage to the rear. Included within the property is a two storey brick built store to the rear of the site, with access from the rear.
The property is arranged over a single storey with a mock two storey facade. It is therefore considered that there may be some potential for future development/planning gain, subject to gaining the necessary consents.
Tenure
Freehold subject to tenancy.
Location
The property is located on the south side of a pedestrianised area of the High Street, in an established trading location with good footfall.
Other occupiers in close proximity include Halifax, EE, WHSmith and Post Office (opposite), Carphone Warehouse, Iceland, Pandora, Greggs, Santander, Specsavers and Burton.
The market town of Huntingdon is situated approx. 15 miles north west of Cambridge and 17 miles south of Peterborough, enjoying close proximity to the A1 and A14 trunk roads. The thriving town also benefits from main line rail services to London (Kings Cross) in under an hour.
VAT
VAT is payable on the purchase price.
Tenancies
The property is entirely let to Caversham Trading Ltd trading as BrightHouse at a rent of £70,000 per year. The tenancy extends until 25th September 2021.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Spearing Waite, 34 Pocklingtons Walk, Leicester, LE1 6BU Ref: TB
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.�