High Street Retail Property for sale

20 & 22 High Street, Leiston, East Of England, IP16


OIRO
£75,000
485 - 991 ft²

Features

  • 20 High Street income producing at a rent of 6,500 p.a.x
  • Guide Price 150,000 as a whole, 75,000 individually.
  • Located on the High Street close to Cross Street junction
  • Nearby occupiers include Fairweather Law, East of England Co-Operative Society convenience store & East Anglia's Children's Hospices (EACH)
  • Part Let Investment Opportunity

Description

20 and 22 High Street comprises a pair of self-contained, mid terrace ground floor shops located within a two storey building of brick construction beneath a pitch tiled roof. Both shops benefit from a part glazed retail frontage and have front and rear pedestrian access.



20 High Street provides an open sales area with WC and tea point to the rear. The premises are fitted with a suspended ceiling incorporating recessed part fluorescent/LED lighting, air-conditioning and a laminate floor covering.



22 High Street has been partitioned to provide an entrance hallway, two offices/meeting rooms with WC and tea point to the rear. The premises are fitted with a suspended ceiling incorporating recessed fluorescent lighting, night storage heaters, air-conditioning to part and a carpet floor covering.



Accommodation

According to our measurements, the properties provide the following approximate net internal floor areas:



20 High Street:

Sales area - 45.19 sq m ( 486 sq ft)

Tea point - 0.64 sq m ( 7 sq ft)

Rear entrance - 1.13 sq m ( 12 sq ft)

WC -- --

Total net internal floor area: 46.96 sq m ( 506 sq ft)



22 High Street

Sales area inc partitioning 43.78 sq m ( 471 sq ft)

Tea point 1.30 sq m ( 14 sq ft)

WC -- --

Total net internal floor area: 45.08 sq m ( 485 sq ft)



Business Rates

The properties are assessed as follows:

20 High Street

Rateable Value: 5,200

Rates Payable (2021/22) 2,594.80 per annum



22 High Street

Rateable Value:5,200

Rates Payable (2021/22) 2,594.80 per annum

The rates are based on the UBR of 0.499.



Local Authority

East Coast District Council, East Coast House, Station Road, Melton Woodbridge IP12 1RT

Tel: 01394 383789



Tenancies

20 High Street is let on a 5 year lease to a private individual from 14th January 2020 at a rent of 6,500 per annum exclusive. The lease is subject to a tenant only break clause at the end of the 2nd year and rent review at the end of the third year. Further details are available upon request.



Tenure

The long leasehold interest is for a term of 999 years with a commencement date of 27th April for 20 High Street and 31st March 1989 for 22 High Street.



Terms

Offers are invited in the region of 150,000 for the long leasehold interest for both, subject to the existing tenancy or 75,000 individually (subject to existing tenancy for 20 High Street).



Legal Costs

Each party to be responsible for their own legal costs.

Categories

High Street Retail Property
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Property reference
CP99461331_14868996