About this property
Key Features
Freehold
4 bed terrace house and seperate 2 storey office building
Social Club let at £9,000 per annum
Investment/development opportunity comprising portfolio of 3 properties totalling 417m² (4,484ft²)
Description
A rare opportunity to acquire a freehold portfolio of 3 adjoining properties, in the heart of the popular town of Newmarket. The properties include a substantial house, an office building and a Social Club, which offer scope for improvement/refurbishment and may present an opportunity for development STP.
The accommodation can be summarised as follows:
Chudleigh House: A substantial residential house under a pitched roof with rendered walls with the internal accommodation comprising:
Ground floor: Sitting room, Kitchen with MDF base and wall units and door to CELLAR;
First Floor: Landing, 2 bedrooms and a bathroom.
Second floor: Landing and 2 bedrooms.
The accommodation is in need of full internal refurbishment.
The gross internal floor area of 150m² (inc cellar). EPC - E, Council Tax Band C.
Amatola House: A small 2 storey office block of brick construction beneath a pitched roof. The internal accommodation comprises:
Ground Floor: Office area with kitchen and store off.
First Floor: Office area with cloakroom.
The property has a GIA of 42m² and rateable area of 31.8m².
Social Club: Operating as the Foresters Club, who have recently signed a 3 year lease outside the Act, at a rent of £9,000 per annum. The accommodation can be summarised as:
Ground Floor: Games Room, Bar, Cloakroom.
Cellar: Large cellar with barrel shute.
First Floor: Landing, Snooker Room, Stock Room, Office and a pair of Cloakrooms.
The property has a GIA of 225m² and rateable area of 206m². EPC - C
The total GIA of the portfolio (including cellars is therefore 417m² (4,484 ft²).
Tenure
Freehold with vacant possession
Location
The properties are located off Kingston Passage which is set just back from the main High Street in Newmarket, and therefore just a short walk from the range of shops, facilities and services on offer within the popular Suffolk town,
Overflow
Each property would benefit from some updating/refurbishment making this an ideal project for an investor/developer.
Outside: There is a small courtyard to the front of the properties, accessed from Kingston Passage, which provides parking for 2 cars.
Lot Type
Commercial
Tenancies
The Social Club is let to Foresters Club on a recently signed 3 year lease at a rent of £9,000 per annum which is outside the Act. See legal pack for details.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Lisa Busby at Paris Smith, 1 London Road, Southampton, SO26 3AE
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.�