SHOP/OFFICE INVESTMENT WITH PLANNING PERMISSION FOR FLAT CONVERSION - HADLEIGH, ESSEX. Located on the London Road (A13 London bound) at the junction of Ash Road adjacent to the National Tyre Garage and within close proximity to Lidl Supermarket. Nearby 4-storey residential developments are currently under construction. Investment income £41,000 to £45,500 per annum net of service charges. For sale freehold subject to the existing tenancies and prior planning approval for conversion of the first and second floors into 8 x 1 bedroom flats and further potential to develop the air space above, shop and forecourt. REF: RX------ V6391E
Location
The property is located on the London Road (A13 London bound) at the junction of Ash Road. The property is situated adjacent to the National Tyre Garage and within close proximity to Lidl Supermarket. Nearby 4 storey residential developments are currently under construction.
Tenure
For sale freehold subject to the existing tenancies and prior planning approval for conversion of the first and second floors into 8 x 1 bedroom flats and further potential to develop the air space above, shop and forecourt.
The current rental income equates to £41,000 per annum net of service charges rising to £45,500 per annum once the vacant first floor rear suite is let.
All tenants are holding over on expired leases with exception of the second floor office tenants who have a lease expiring 14/9/23.
Premises
SHOP/OFFICE INVESTMENT WITH PRIOR PLANNING APPROVAL for conversion of the first and second floors into 8 x 1 bedroom flats and further potential to develop the air space above, shop and forecourt.
Shop/Offices
SHOP/SHOWROOM - Approx. 137.60 sq. m.
COVERED REAR YARD - Approx. 16.831 sq.m.
FORECOURT - Approx. 40' frontage x 30' - 111.48 sq.m.
FIRST FLOOR OFFICES (FRONT SUITE) - Approx. 90.7 sq. m.
FIRST FLOOR OFFICES (REAR SUITE) - Approx. 32.0 sq. m.
GENTS TOILETS
SECOND FLOOR OFFICES - Approx. 129.05 sq. m.
LADIES TOILETS
Car Park
REAR CAR PARK - 8 spaces, accessed off Ash Road.
Note
APPLICATION NO. 20/0270/CPA. Notice of Decision on Application for Prior Approval for Change of use of first and second floors from offices (Class B1(a)) to eight 1-bed flats (Class C3).
Business Rates
Shop/Showroom RV - £15,500
First floor offices (front) RV - £9,300
First floor offices (rear) RV - £3,450
Second floor offices RV - £10,750
Legal Costs
Each party is to be responsible for their own legal costs incurred in this transaction.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
