About this property
Key Features
Freehold subject to tenancy
Current rental income of £14,250 pa.
Edge of town location
Terraced industrial unit
Description
A wonderful opportunity to acquire an investment opportunity, comprising a mid-terrace industrial unit, of steel portable frame construction, with a brick and block walls beneath a pitched and flat roof. The property is ideally located in a popular industrial area on the eastern fringes of the thriving town.
Unit 2 has a generous curtilage of approximately 0.11 acres.
The front of the building is accessed via a steel roller shutter door leading from a small apron to the front, as well as a pedestrian door. Within the building, there is a main warehouse area with a maximum eaves height of 4.9m reducing to 2.6m.
To the rear of the building are a pair of Cloakrooms, each with a WC and wash hand basin, and 2 Offices, along with a lobby providing pedestrian access to the rear of the building.
Unit 2 has a net internal area of 275m² (2964ft²).
In addition to the building, there is a small yard area to the front and rear.
Tenure
Freehold subject to tenancy
Location
Unit 2 is found on the eastern side of the town centre. Heading north on Somersham Road, turn left into Nuffield Road, and at the end of Nuffield Road turn right into Burrell Road before turning immediately left whereupon Unit 2 can be found in the left hand corner.
The industrial estate has high rates of occupation by a variety of independent and national businesses.
VAT
No VAT is payable on the purchase price.
Lot Type
Commercial
Tenancies
The property is currently let to Anglia CNC Engineering, who pay a rent of £14,250 per annum (with potential rental growth). It is understood that the tenant is currently holding over.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions
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.�