Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding mixed-use investment let to Heron Foods and offering planning consent for further development.
Forming part of a popular local parade, the property is arranged as a ground floor retail unit, forming the anchor unit for the parade, with 2 x two bedroom flats to the upper parts and further undeveloped space to the upper parts offering development potential. The current lettable space is fully let to separate tenants at a combined rent of £48,800 per annum.
The ground floor is let to Heron Foods Limited on a new 10 year lease expiring 03.04.2035 and producing £35,000 per annum.
The upper parts are let on separate Assured Shorthold Tenancies (ASTs) at £6,900 p.a. per flat.
The property includes a large vacant space to the upper parts, this space benefits from planning consent for conversion to provide a further two bedroom flat (Reference: 25/00855/FUL)
The property forms the anchor retail unit of Cheviot Square, an established retail parade forming the principal retail amenity for the surrounding residential area.
Tenure
Freehold
Tenancy
Please see the Tenancy Schedule and Legal Pack for more information.
Heron Foods Limited
Planning
Click Here for the current planning consent Reference: 25/00855/FUL
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).