About this property
6 week completion with vacant possession
Planning consent for 2 bedroom duplex flat above retail unit
City centre location
Freehold commercial investment/development opportunity. VAT exempt.
An excellent opportunity to purchase a well positioned end of terrace commercial premises, in the heart of the thriving city of Ely, Cambridgeshire. The property is of brick and timber framed construction beneath a mix of pitched slate roofs, with flat felt roofing to the rear, and benefits from planning permission to create a self-contained 2 bed flat above the retail unit.
The accommodation currently comprises:
Ground floor: Main L-shaped retail space, with full height and width display windows and glazed doors. Also at ground floor level is a Cloak room with WC and wash hand basin, and rear lobby with stairs to first floor.
First floor: Arranged as one main display area, with a pair of sash windows to front, and large storage cupboard to side.
To the rear of the property is a small yard with right of way in favour of the neighbouring property and a redundant detached store of brick construction beneath asbestos sheet roof in need of overhaul.
The property is currently fully let to an interior design company who have occupied the property for approximately 10 years, but are due to vacate in July 2019, thereby offering an investor a chance to purchase the building with vacant possession.
Freehold with vacant possession
The building occupies a prominent position to the east of the main High Street in the thriving city of Ely. Ely lies approximately 17 miles north of Cambridge and has a main line train station with services to Cambridge and London.
No VAT is payable on the purchase price.
Planning permission was granted in October 2017 to reconfigure the property to form a self-contained retail unit at ground floor, with permission to create a 2 bedroom self-contained duplex flat over the first and second floors (which include a conversion of the existing roof space). In addition the detached out-building to the rear will be rebuilt.
Further details of the approved scheme can be found on the East Cambs planning portal, ref 17/01017/FUL.
www.cheffins.co.uk/auctions/property-auctions or John Thorogood at Ward Gethin Archer, Market Place, Ely, Cambs, CB7 4QN, 01353 662203, firstname.lastname@example.org
Cheffins Property Auction Dept 01223 213777
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