About this property
Key Features
Freehold with vacant possession
Close proximity to public parking
Desirable location on Mill Road
Opportunity for redevelopment, subject to planning
Description
The property comprises a terraced commercial building which sustained heavy fire damage in 2019. The property remains in a state of disrepair. At present there is a temporary roof structure and scaffolding in place to protect neighbouring properties. It will be the responsibility of the purchaser to continue to provide protection from weathering damage to the neighbouring properties.
The property has not been measured as it cannot be accessed for safety reasons. The floor areas are quoted from the Valuation Office Agency website which states the following approximate net internal floor areas:
Ground Floor: 55.6m² (598ft²)
First Floor: 51.8m² (558ft²)
Second Floor: 30.1² (324ft²)
Total: 137.49m² (1,480ft²)
Uniform Business Rates
The property is entered into the 2023 VOA Ratings List with a rateable value of £14,750. Therefore, the rates payable for 2023/24 will be approximately £7,360.25.
EPC - Exempt due to the damaged state of the building.
Tenure
Freehold with vacant possession
Location
Mill Road is situated on the city’s south-eastern side of the city centre and is an established shopping destination and densely populated residential area. The train station is situated 0.6 miles from the property. The city centre and Grafton Shopping Centre are also within walking distance. Mill Road is a popular cosmopolitan area home to a vibrant mix of local traders and speciality shops together with various restaurants and cafes. Gwydir Street car park is situated on the opposite side of the road to the property.
VAT
No VAT is payable on the purchase price.
Lot Type
Commercial
Planning
There is no available planning information to research on the Greater Cambridge Shared Planning Services website portal. The property has historically been used for retail purposes only, but may offer potential for alternative uses STP.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Carol Rogers at Pearce Legal Solicitors, 2, The Square, Solihull, B91 3RB
Viewing
Cheffins Commercial Department 01223 213666
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.�