Retail premises for sale in Claye Street, Long Eaton NG10

Offers over £650,000 (£122.18/sq. ft)
Retail premises for sale 5,320 sq. ft*
Interested in this property? Call +44 115 691 9924 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Mixed use investment for sale
  • Commercial nia: 2,360 Sq Ft (219.2 Sq M)
  • 100% Occupancy
  • Wault of circa 9 years on ground floor retail
  • Offers invited in excess of £650,000

Property description

Under offer

location


Long Eaton is a market town within Derbyshire that lies approximately 7 miles south west of Nottingham and 8.5 miles south east of Derby and has a population in the region of circa 40,000 people.

The property is located on Claye Street which is located adjacent to the High Street and to the rear of the Beaconsfield Street car park.


Description


The property is constructed of brick elevations beneath a pitched slate roof incorporating UPVC double glazing to the upper floor apartments and feature glazing to the ground floor retail units.

There are 3 retail units located to the ground floor, all of which are subject to occupational tenancies. Further information is available in the attached tenancy schedule.

Likewise, the 4 apartments located to the first floor and benefiting from their own dedicated access from the rear are all let on Assured Shorthold Tenancies set out on the attached tenancy schedule.


Accommodation


Floor Description Sq Ft Sq M
Ground 2 Claye Street 478 44.4
Ground 4-8 Claye Street 1,421 132.0
Ground 10 Claye Street 461 42.8
Ground Floor Sub-Total 2,360 219.2
First 2A Claye Street 969 90.0
First 4A Claye Street 570 53.0
First 8A Claye Street 603 56.0
First 10A Claye Street 818 76.0
First Floor Sub-Total 2,960 275.0

Externally there is a private car park to the rear which can accommodate circa 6 vehicles which is included within the tenancy agreement to the hairdressers occupying 4-8 Claye Street.

A site plan is attached for identification purposes only.


Planning


It is understood that 4-8 Claye Street and 10 Claye Street benefit from an A1 (Retail) consent and 2 Claye Street benefits from an A5 (Hot Food Takeaway) consent.

The upper floor apartments benefiting from C3 (Residential) consent.

For further information we would advise interested parties to contact Erewash Borough Council on .


Tenure


Please see tenancy schedule overleaf providing the details of each occupational tenancy.


Business rates


According to the Valuation Office Agency website we understand that the ground floor retail units have the following rateable values:

2 Claye Street: £5,900
4-8 Claye Street: £18,250
10 Claye Street: £7,200


Price


Offers are invited in excess of £650,000, exclusive of VAT.

This represents a gross yield of 8.35% based on the gross income of £54,380 per annum.


VAT


We are advised that VAT will not be applicable to this transaction.


EPC


We are advised that the ground floor retails units have the following Energy Performance Asset Ratings:

2 Claye Street: E(113)
4-8 Claye Street: D (76)
10 Claye Street: D (94)


Legal costs


Each party will be responsible for their own legal fees involved in this transaction.


Viewing


Strictly by appointment with the sole agent Geo. Hallam & Sons:

Contact: Giles Davis
Email:
Direct Tel:

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Geo Hallam and Sons, NG1 on +44 115 691 9924 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Geo Hallam and Sons, and do not constitute property particulars. Please contact Geo Hallam and Sons for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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