Retail premises for sale in London Street, Fairford GL7

Guide price £290,000 (£260.79/sq. ft)
Retail premises for sale 1,112 sq. ft*
Interested in this property? Call +44 1367 232967 * or Request Details

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

Property features

  • Commercial & Residential Investment
  • Business Lease on Ground Floor
  • Vacant & Newly Decorated First Floor Flat
  • Additional Building on Land to Rear
  • Development Potential
  • Prominent Position
  • Good Display Frontage

Property description

Freehold for sale

location


1 & 2 The Old Dairy is prominently situated on London Street in an area of residential and commercial occupiers, located a short walk south-east of Fairford’s Market Square. Overlooking the A417, the property enjoys good display frontage onto the public highway and also benefits from some public on-road parking directly in front of the building.

Fairford is a historic market town with a population of around 4,000. Situated on the south-east edge of The Cotswolds it lies approximately 9 miles east of Cirencester and 4 miles west of Lechlade. Straddling the A417 the town has excellent transport links giving good access to Swindon and the M4, as well as Oxford and the A420.

The property is situated only a short walk from the Market Square and its various amenities including a Londis, Co-op, pharmacy, library, various pubs and restaurants, and the locally renowned Bull Hotel.

The Town also boasts a free public car park just north of the Market Square providing around 50 spaces which are located within easy walking distance of London Street.


Description


Comprising of a ground floor commercial premises, currently occupied by Inspirations Hairdressers, with a 2 bed residential flat above, the building to the north of the property has frontage and pedestrian access directly onto London Street. To the rear of this building is a further area of land within which is situated a single story building comprising 6 storerooms. Vehicular and pedestrian access to the rear of the property is provided via Back Lane.

Currently producing a rent of £8,000 per annum the property is sold subject to a Business Lease at the ground floor shop to Mrs A M Hadkiss for a term of 6 years as from 1st April 2018. Tenant options to break are granted on 30th June and 30th September 2021 with 3 months prior notice.

Sold with Vacant Possession, and previously let at a rent of £625 pcm, the residential flat has been newly decorated throughout. Benefiting from a fitted kitchen with electric cooker and recently installed wall mounted electric heaters to the principal rooms, the Flat offers 2 good size bedrooms, living room, shower room, kitchen and WC.

The land to the rear of the property extends to approximately 23m x 10m within which the single story store building is located to the eastern boundary. These buildings are sold with Vacant Possession. There is a vehicular and pedestrian right of way over the land to the south in favour of the neighbouring property 12 London Street, the approximate location hatched yellow on the plan.

Note: The land and store buildings may have development potential, interested parties are advised to make their own enquiries and investigations with regards to this.


Commercial lease terms


Term: 6 years from 1st April 2018, outside lta 1954.
Rent: £8,000 per annum exclusive, payable monthly in advance.
Break Options: Tenant only on 30th June & 30th September 2021 with 3 months’ notice.
Rent Review: 1st April 2021.
Repairs: Tenant responsible for internal repairs and shopfront.
Deposit: None.


VAT


VAT is not payable in addition to the purchase price.


Business rates & council tax


Shop - Rateable Value is £4,900.00. Flat - Council Tax Band of B.


Local authority


Cotswold District Council, Trinity Road, Cirencester. Tel:


Energy performance certificate


The Flat has an EPC rating of F. The shop has an EPC rating of E.


Rights of way


There is a vehicular and pedestrian right of way over the land to the south in favour of the neighbouring property 12 London Street, the approximate location hatched yellow on the attached indicative plan.

There is a vehicular and pedestrian right of way over the land hatched green on the attached indicative
plan in favour of 1 & 2 The Old Dairy.

Property info

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

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Marriotts, SN7 on +44 1367 232967 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Marriotts, and do not constitute property particulars. Please contact Marriotts 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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