13 Mar 2019 | 02:00 PM
Result:
Sold for £195,000
Freehold
46/46a High Street, Chatteris, Cambridgeshire, PE16 6BH
Lot 10
Result: Sold for £195,000
Key Features
- Town centre location
- Two established commercial tenants
- Rental income of £17,500 per annum
- Freehold commercial investment opportunity
Description
A two storey commercial investment opportunity located on the High Street of this popular Fenland town. The property is let to 2 tenants with the relevant areas comprising:
No 46 (let to Harrison & Murray Ltd (estate agents and Building Society)) features shop window, main front office area with separate meeting room, kitchen, lobby and cloakroom.
No 46a (let to Greetings) features a main trading area at ground floor level with stairs rising to storage room at first floor level.
NB. planning permission was previously granted for the conversion of the first floor storage room to provide a self-contained 1 bedroom flat.
Tenure
Freehold subject to leases.
Location
The property is located in the heart of the town centre, on the west side of the High Street. The town centre features a number of shops and facilities, including local and multinational traders.
Auctioneers Note
The property has not been elected for VAT. Therefore no vat will be payable on the purchase price.
Lot Type
Commercial
Tenancies
No 46 is let to Harrison Murray Ltd on a 10 year lease which commenced on 18th August 2013 at a rent of £10,000 per annum. Harrison Murray Ltd are a large regional chain of estate agents owned by the Nottingham Building Society, and have been trading from this property for over 11 years.
No 46a is let to Greetings which is an established local greetings card business. The 5 year lease commenced on the 1st February 2018 at a rent of £7,500 per annum.
Please see the legal pack for more information on the leases.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Roy Cowie of Nelson Solicitors, 5 Pavilion Mews, Church Street, Brighton, BN1 1GA, [email protected],
Viewing
Cheffins Property Auction Dept 01223 213777
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.