13 Mar 2019 | 02:00 PM
Result:
Sold for £160,000
Freehold
24 & 24a Queen Street, Haverhill, Suffolk CB9 9EF, (On behalf of Joint LPA Receivers), CB9 9EF
Lot 8
Result: Sold for £160,000
Key Features
- Planning permission approved for the construction of 2 further flats to rear
- Total income of £12,350 per annum
- Ground floor retail unit & self-contained studio flat above
- Freehold investment property
Description
A fully-let 2 storey mixed used investment property of brick construction beneath a pitched tiled roof, in the centre of the popular market town of Haverhill.
The property consists of a retail unit at ground floor level, with a self contained residential studio flat to the first floor.
The ground floor retail premises (24 Queen Street) is occupied by a hair salon trading as Hair Mecanix. The accommodation comprises a main trading area, with kitchenette and cloakroom. Providing 33m² (352ft²) GIA. The successful salon is well established, having originally signed a 12 year lease in 2012.
The first floor self-contained residential studio flat (24a Queen Street) comprises; Entrance door with stairs rising immediately to first floor; Living/Bedroom area; Kitchen; Shower Room. Providing 30m² (320ft²) GIA. The flat has had good occupancy rates and is currently let on an Assured Shorthold Tenancy basis.
Tenure
Freehold subject to tenancies
Lot Type
Commercial
Planning
Planning permission was granted on the 5th January 2018 for the construction of a further 2 one bed flats in the parking area to the rear of the property, including some modifications to the rear extension of the commercial premises. The one bed flats are 38m² and 51m² respectively, and benefit from cycle and bin storage. Note should be made that the planning permission granted on the rear car parking area is currently within the lease of 24 Queen Street.
Tenancies
24 Queen Street is let to Hair Mecanix on a 12 year lease originally dated 24th March 2012, at a current rent of £7,250 per annum.
24a Queen Street is let on an Assured Shorthold Tenancy basis, with the current tenant taking occupation on 9th March 2018 with a monthly rent of £425 (£5,100 per annum)
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Sam Dixon of Womble Bond Dickinson, 1 Whitehall Riverside, Yorkshire, LS1 4BN, 0113 2904424, [email protected]
Viewing
Cheffins Haverhill 01440 707076
Important notes
IMPORTANT: Cheffins would like to inform prospective purchasers that these sales particulars have been prepared as a general guide only. A detailed survey has not been carried out, nor the services, appliances or fittings tested. Room sizes should not be relied upon for furnishing purposes and are approximate. If floor plans are included, they are for guidance and illustration purposes only and may not be to scale. Images may have been digitally edited for illustration purposes. If there are any important matters likely to affect your decision to buy, please contact us before viewing the property.
*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.