June 2023: Wednesday 21 June 2023 - 9:00am
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    Key features

    • Currently investment let at £17,500 p.a.
    • A section 26 notice has been served by the tenant to enter into a new lease and to hand back the 3 bedroom flat to the Landlord - Refer to legal pack
    • Property comprises of a Ground floor commercial unit let by Boots Optician and a 3 bedroom flat with garden (sublet)
    • Asset management potential to improve the passing income (subject to negotiation)
    • Development potential to sell off the flat on a long leasehold interest
    • A dilapidation schedule has been served on the tenant which the benefit of can be passed to the incoming purchaser
    • Located in an attractive Market town
    • VAT free investment
    • 6 week completion

    Description

    The property comprises of detached, 2 storey mixed use property with commercial unit on the ground floor and 3 bedroom flat located on the 1st floor. The commercial unit is accessed via the front of the property with the residential unit being accessed via the rear garden.

    Nearby occupiers include Costa, Boots Pharmacy, Poundland, Shoe Zone as well as a wide range of local and independent retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the approximate areas have been provided by a third Party and the property has not been inspected by Savills.


    Ground Floor

    • Retail area, Consulting Area, Staff Room, Kitchen, Consulting Room, Storage and W/C
    • An Approx. 83.07 sqm (894 sq ft)

    First Floor

    • 3 x bedrooms, Living Room, Kitchen, Bathroom WC
    • An approx. 89.6 sqm (964 sq ft)


    Tenancy

    26-28 King Street

    • Let to Boots Opticians Professional Services Limited (TA Boots Opticians)
    • Entire property let on a 10 year lease from 1/11/2013
    • A section 26 notice has been served by the tenant to enter into a new lease and to hand back the 3 bedroom flat to the Landlord - Refer to legal pack
    • First floor flat has been sublet by the tenant
    • Investment let at £17,500 p.a.

    Rent

    £17,500 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located on the Northern side of King Street and is located adjacent a cut through access from St Giles Lane.

      Thetford Station located an approx. 0.5 miles from the property

      Transport

      Thetford Station - National Rail Services

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums