About this property
Key Features
Ideal investment property with lease agreed until August 2018
Annual rent of £9,000
Good town centre location
Retail lock-up shop
Description
A wonderful opportunity to purchase a retail lock-up shop, in a good position in Peterborough town centre, just a short walk from the Queensgate Shopping Centre.
The unit forms part of an imposing stone clad building and is mid-way along a parade of similarly sized units.
Unit 4 is a self-contained shop unit with a gross internal area of 36 sq m, with a full height display window to Park Road.
The accommodation comprises: MAIN RETAIL AREA with tiled floor, slatting to most walls and suspended ceiling with strip lighting; LOBBYwith sink and door to covered fire escape to rear; CLOAKROOM with white WC and wash hand basin.
Tenure
Long Leasehold subject to tenancy
Location
The cathedral city of Peterborough has an estimated population of over 180,000 and has grown rapidly in recent years. The city offers a wide range of shops and facilities as well as public services. Peterborough is a principal stop on the East Coast Main line railway and is therefore only 45 minutes journey time from London.
Lot Type
Commercial
Tenancies
The property has been let to Hair Essential and Cosmetics since September 2012, with a recent renewal extending the tenancy to 31/08/2018, with no break clause. The tenant is currently re-fitting the shop before reopening in the coming weeks.
The annual rent is £9,000 (FR&I).
The long leasehold of the property is being sold, with 125 years remaining. The property is subject to a £380 per year service charge, and an insurance charge of £165.27, both of which are paid by the tenant. The ground rent is £100 per year.
Legal Packs
www.cheffins.co.uk/propertyauctions or Keith Harvey & Co. Solicitors, 43 High Street, Market Harborough, LE16 7AQ, Tel: 01858 464327 Ref: SC
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.�