Retail Investment Opportunity
23 Sep 2015 | 02:00 PM
Result:
Sold prior
Freehold
The Corn Exchange, Market Hill, Royston, Hertfordshire, SG8 9JR
Lot 10
Result: Sold prior
Key Features
- Total Annual Rental Income £46,852.00
- Landmark town centre location
- Attractive Courtyard development
- Multi-let retail investment opportunity
Description
A unique opportunity to purchase The Corn Exchange, Royston. The property comprises an attractive development of small single storey retail units situated around a paved courtyard. There are 23 units in the block with an approximate total net internal area of 217 sq m (2,336 sq ft), although a number have been merged to provide larger self contained units, including retail and "Sui Generis" uses.
The units have had good rates of occupancy and rental income, with all tenants currently committed beyond 2015.
The total annual rental income is £46,852.00, offering a high rental yield for purchasers/investors.
Tenure
Freehold
Location
The market town of Royston is located on the Cambridge/Hertfordshire border approximately 12 miles south of the University City of Cambridge. The town has an approximate population of 14,000 and is situated equidistant between the A1 and the M11 (A10/A505 junctions). There is an excellent rail link to London (45 mins) and Cambridge (20 mins).
The property itself is situated in a prominent position on Market Hill immediately opposite the market place and in the heart of the town centre.
TENANCY SCHEDULE<
Lot Type
Commercial
Legal Packs
Tees Law, Titan House, Castle Park, Castle Street, Cambridge, CB3 0AY Tel: 01223 311141 Ref: DM or www.cheffins.co.uk/propertyauctions
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.