Lot 18 - SOLD £595,000 102/102A Cherry Hinton Road, Cambridge, CB1 7A..
Details:
• Mixed use investment opportunity
• Ground floor retail unit and 3 residential flats
• Off street parking
• Not subject to VAT
DESCRIPTION
The property comprises a two storey end of terrace Victorian property which was converted in 2008 from offices to a ground floor retail unit and three residential flats, with the benefit of off street parking.
The property has been re-furbished to a high standard and provides the following accommodation and dimensions;
Shop
Open plan sales area with WC to the rear.
Approx NIA 64.1 sq m (690 sq ft)
Flat 1 (Studio)
Open plan studio flat with Bathroom and outside patio area
Approx GIA 29.7 sq m (320 sq ft)
Flat 2 (1 bed)
Open plan Kitchen and Living Room with Bedroom and Bathroom
Approx GIA 40.8 sq m (440 sq ft)
Flat 3 (2 bed)
Open plan Kitchen and Living Room with 2 Bedrooms and Bathroom
Approx GIA 55.7 sq m (600 sq ft) Each flat has one car parking space.
LOCATION
Cherry Hinton Road is a busy arterial route on the south-east side of Cambridge connecting further east with the A1134 outer ring road. The location comprises a mixture of shops, restaurants and various other commercial uses, together with residential dwellings. The property itself is location approximately 1.25 miles distance from the city centre and within 0.5 mile of the railway station.
TENANCIES
The shop unit is let at present to Blazing Saddles for a term of 10 years from November 2008 at a current rent of £15,000 per annum.
The flats are let on 12 month Assured Shorthold Tenancies and provide the following rental income;
Flat 1 (Studio) £ 6,960 pa
Flat 2 (1 bed) £ 9,132 pa
Flat 3 (2 bed) £11,940 pa
Retail Unit £15,000 pa
Total Annual Income £43,032
AUCTIONEERS NOTE We understand that the property has been sucessfully let over the last 2 years with minimal void periods. Further information available in the Auction Legal Pack on request.
TENURE Freehold subject to the existing tenancies
LEGAL PACK www.cheffins.co.uk/propertyauctions/catalogues.asp
or Huggins & Lewis Foskett, 5/6 The Shubberies, George Lane, South Woodford, London, E18 1BG tel 0208 989 3000 ref AB
VIEWING Cheffins Commercial Department 01223 213666
Result: £595000
