About this property
Key Features
Freehold
Rental income of £19,500pa
Prominent location within town centre
Commercial restaurant with ancillary residential accommodation
Description
A wonderful opportunity to purchase a freehold commercial premises in the heart of the Fenland town of Ramsey, which is let to an established tenant. The building is of brick construction beneath a pitched roof.
The generous internal accommodation is arranged over 3 storeys as follows:
Ground Floor: Restaurant serving area; Kitchen; Cold Room; Cloakroom. Total area approx. 155sq.m.
First and Second Floor: The ancillary residential accommodation is accessed via an external fire escape staircase, with a further internal staircase to Second Floor, and provides a total of 6 Bedrooms; entrance area; w.c., Office/Store; Bathroom.
The Ground Floor commercial areas which trade as Indiaana Restaurant, are very tastefully decorated having undergone a recent schedule of re-decoration. The upper parts are in need of some refurbishment, and therefore offer a purchaser the chance to add value.
It is understood that the property is not listed but is located within the Conservation Area.
Tenure
Freehold subject to tenancy
Location
The property is well located on the south side of the High Street which is the main thoroughfare through Ramsey. No. 61 is opposite the Nationwide Bank and close to the junction with Great Whyte.
Lot Type
Commercial
Tenancies
A new lease was granted on 22nd February 2015 for a term of 15 years from 23rd November 2015, at a yearly rent of £19,500 pa.
The lease outlined the use of the Ground Floor as Class A1 or Class A3 premises, with residential use above. The Tenant is responsible for repair. (See Auction Legal Pack for full details).
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Barr Ellison Solicitors, 39 Parkside, Cambridge, CB1 1PN Tel: 01223 417200
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.�