Lot number: 7
Unsold - contact auctioneer
Commercial investment/Development opportunity
Clocktower Mews, Exeter Road, Newmarket, Suffolk, CB8 8LL
An opportunity to purchase a centrally located, retail/office investment in Newmarket with potential for future mixed use/residential development (STP). The property comprises 4 fully let ground floor retail units and multiple rooms at first floor used for offices/storage with access to communal toilet and tea-making facilities. The property benefits from 4 parking spaces as part of a private courtyard and has a total net internal area of approximately 256.75 m² (2,817 ft²).
The property is let to a number of independent businesses on internal repairing tenancy agreements inclusive of electricity and water. Tenants are responsible for their own business rates. The gross rent is approximately £53,350 per annum. There is one vacant office with an estimated rental value in the order of £2,000 per annum. The landlord’s expenses for 2014 equated to £3,425.68 and are likely to be approx. £4,000 for 2015.