Freehold investment in good secondary retailing location providing a new tenant to the ground floor retail unit with three additional self contained flats above on 12 months ASTs from February 2019. Overall income of £30,000+ with the commercial rent rising over 5 years. Offers sought at £400,000.
The property is located on Silver Street to the north side of Wellingborough opposite the pedestrian access way to Morrisons supermarket. Immediately to the south of the property and just a short walk away is The Swansgate Centre, Wellingborough towns prime retailing area.
Wellingborough is a large up and coming town with good road and rail networks. The town has a current population of 76,000.
The property is a period style building arranged over ground, first and second floor. The ground floor offers substantial retail space with a back workshop/office area. The two upper floors offer further ancillary accommodation.
The property provides three self-contained flats with separate access. These flats are tenanted on Assured Shortheld Tenancy.
We understand the property to provide a net internal floor area as follows:
Ground Floor Retail – 1,156 Sq. ft. (107.39m2)
Ground Floor Store – 68 Sq. ft. (6.3m2)
First Floor – 279 Sq. ft. (25.93m2)
Second Floor – 405 Sq. ft. (37.60m2)
Total – 1,908 Sq. ft. (177.22m2)
Sale of freehold tenure. Offers in the region of £400,000.
The 2017 Rating Assessment for the ground floor retail area is a Rateable Value of £9,700.
The three flats are all assessed for council tax purposes within Band A.
Interested parties should make their own enquiries with the Local Billing Authority.
We are advised that VAT is not payable.
Please contact the agent on 01536 517777 for viewings.
Each party to bear their own legal costs.