Description -

The ground floor comprises two terraced retail units (no.41 & 45) held under separate leases used as a retail shop for gifts and home goods. There is parking for five cars at the rear of the property with four spaces allocated to 41 High Street and one space for 45 High Street.

The first floor (no.43) is occupied by a dentist and is accessed from the ground floor at the front of Grenville House, which leads to a staircase with stairlift leading to the first floor. The accommodation provides two treatment rooms, a kitchen, preparation room, reception room and office. There are two allocated parking spaces to the dentist at the rear.

There are a further three parking spaces in addition to those allocated to 41, 43 and 45, one of which is currently occupied by on a six month licence which expires in November.

INVESTMENT SUMMARY

41 High Street:

Tenant: Personal name trading as Kado Gifts
Term: 10 years
Commencement: 29th September 2016
Rent Passing: £13,948 per annum
Repair: Fully repairing
Insurance: Landlord insures and tenant reimburses premium.

43 High Street:

Lease dated: 11th January 2019
Tenant: Pratimaben Hiten Patel
Commencement: 11th January 2019
Expiry: 10th January 2034
Rent: £13,000 per annum
Insurance: Landlord arranges and the tenant reimburses the premium.
Repair: Effectively full repairing and insuring
Alienation: The tenant is permitted to assign or sublet the whole but not part only.
Rent review: 29th September 2020 and each third anniversary of that date with the
next review due on 29th September 2026.

45 High Street:

Tenant: Personal name trading as Kado Gifts
Term: 10 years
Commencement: 29th September 2016
Rent Passing: £10,052 per annum
Repair: Fully repairing
Insurance: Landlord insures and tenant reimburses premium.

This provides a total rent of £37,000 per annum.

We are aware that the ground floor tenant intends to vacant both premises at the end of their lease.

Accommodation -

The premises provide the following accommodation measured in accordance with the Royal Institute of Chartered Surveyors Code of Measuring Practice on a net internal area basis.

41 High Street: 684.09 sq. ft. / 63.55 m2
43 High Street: 697.38 sq. ft / 64.78 m2
45 High Street: 347.69 sq. ft / 32.30 m2

Terms -

Our clients seek £495,000 for their freehold interest. VAT is not applicable.

Any interested parties will be required to provide company information and proof of funds to comply with anti money laundering legislation.

Energy Performance Rating -

No.41 - E103 No.43 - E115 No.45 - E103