A terrace retail shop with a large double/triple frontage, currently let at £12,500 per annum. REF: RX------ - V6761E
Location
The premises is situated in a fantastic trading location that is highly built up residentially, with a large development of flats above and next door to a cafe. The premises benefits from free time-restricted parking directly to the front of the unit.
Tenure
Our client has a long lease on the property with approximately 134 years unexpired, with a ground rent payable at £197.64 per annum. Our client's tenant has a 16-year lease from 21st June 2013 at a rental of £12,500 per annum exclusive. The lease is subject to 4-yearly rent reviews, with the next review due in June 2025.
Premises
A terrace retail shop with a large double/triple frontage, with fascia board and single glazed entrance door leading into the premises which measures approximately 979 sq. ft. with tiled flooring, suspended ceiling, panel lighting and is arranged as:
RETAIL ZONE A - 879 sq. ft.
RETAIL ZONE B - 101 sq. ft.
Business Rates
The premises is subject to a rateable value of £12,000 resulting in zero business rates payable, should small business rate relief apply to a tenant.
