Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment opportunity situated on a prime pedestrianised street.
Arranged across ground, first and second floors, the property comprises a rarely offered unbroken freehold asset that is currently fully let to Phone Tech Revive Limited. The lease is for a term of five years expiring 1st September 2028 and paying a rent of £14,400 per annum. The lease is on full repairing and insuring terms and includes two personal guarantees from the tenant.
There may be longer term development potential including the conversion of the upper parts to residential use, this is subject to the existing lease and any requisite consents.
Tenure
Freehold
Tenancy
The property is let in its entirety to Phone Tech Revive Limited. The lease is for a term of five years expiring 1st September 2028 and paying a rent of £14,400 per annum. The lease is on full repairing and insuring terms and includes two personal guarantees from the tenant.
Planning
Due to government investment in the local area, grants may be available for any future planning consents for conversion to alternative uses. In some cases this funding can be up to 70% of gross cost. Further information can be obtained from info@bishopaucklandtownteam.org
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale can be treated as a Transfer of a Going Concern (TOGC).