About this property
Key Features
Gross Initial Yield 11.52%
46.8 square metres (504.18 square feet)
70 years unexpired
Producing £9,900 per annum
Description
An opportunity to acquire a leasehold investment producing a good rent being this mid terrace ground floor retail unit located in the heart of the fenland town of Soham adjacent to other businesses. The property is currently let and used as a ladies fashion boutique.
The property has a gross internal floor area of 46.8 square metres (504.18 square feet) with accommodation laid out to provide retail area, store room, Kitchen, W.C. and Office.
To the rear of the property are two carparking spaces.
The property has gas fired central heating
EPC Band - C
Rateable Value from 1st April 2023 is £5,900
Tenure: Leasehold currently let.
Leasehold - the remaining term of a 99 Year lease commencing 29th September 1994 with an annual ground rent of £100.00.
Lease – A new two year lease has been completed commencing 1st May 2024 expiring 30th April 2026 with a tenants break provision at 12 months
Tenure
Leasehold
Location
Situated in the centre of the fenland town of Soham adjacent to a variety of other independent shops and businesses. Soham is situated on the A142 approximately 6 miles south of Ely and 10 miles north of Cambridge.
VAT
No VAT is payable on the purchase price.
Lot Type
Land
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Anna Hall at Edmondson Hall, 25 Exeter Road, Newmarket CB8 8AR.
Viewing
Cheffins Ely Rural Dept 01353 654900
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.�