Lot 11 - SOLD £362,000 The Corn Exchange, Market Hill, Royson, Herts..
Details:
• Multi let retail investment opportunity producing £34,825 pa (ERV £42,375 pa)
• Attractive courtyard development
• Landmark town centre location
• No VAT applicable
• Opportunities to enhance rental income
DESCRIPTION
The Corn Exchange comprises a development of small single storey retail units situated around a paved courtyard. There are 23 units in the block with an approximate total net internal area of 217 sq m (2,336 sq ft), although a number have been merged to provide larger self contained units, including a cafe, gift shop and jewellers.
LOCATION
The market town of Royston is located on the Cambridge/Hertfordshire border approximately 12 miles south of the University City of Cambridge. The town has an approximate population of 14,000 and is situated equidistant between the A1 and the M11 (A10/A505 junctions). There is an excellent rail link to London (45 mins) and Cambridge (20 mins).
The property itself is situated in a prominent position on Market Hill immediately opposite the market place and in the heart of the town centre.
JOINT AGENTS Contact Ben Oughton at Jeffersons Commercial 01223 315716
TENURE Freehold subject to the existing tenancies (please see attached breakdown of current tenancies)
AUCTIONEERS NOTE Rentalisation of Units 6 & 7, regearing of Units 17 - 22, the uplift in the rent on Units 2 - 5 and full rent on Units 11, 12 13, 14 & C could give an additional rent of £7,550 pa (i.e. a total rent of £42,375 pa).
LEGAL PACK Taylor Vinters, Merlin Place, Milton Road, Cambridge CB4 0DP tel 01223 423444 ref NC e.mail:neil.cambell@taylorvinters.com
VIEWING Cheffins Commercial Department 01223 213666 ref PW or
joint agents Jeffersons Commercial 01223 315716 ref BO
Result: £362000
