Retail premises for sale in Kneesworth Street, Royston SG8

Investment Consideration:
Rental Income: £15,000 p.a.
Ground Floor Retail erv: £38,000 p.a. Giy: 7.60%
VAT is not applicable to this property
Comprises ground floor shop let to Coral (No. 4A), vacant ground floor shop (No.4) and a vacant upper parts above both shops, providing residential development potential sttp
Situated in the heart of the town centre within 10min walk from Royston Train station providing direct and regular services to London King`s Cross, Cambridge and Brighton
Retail occupiers nearby including Lloyds Bank, Costa Coffee, Domino`s Pizza, Boots and more

Property Description:
Comprises ground floor shop let to Coral (No. 4A), vacant ground floor shop (No.4) and a vacant upper parts (former offices) above both shops, providing the following accommodation and dimensions:
Ground Floor: 141 sq m (1,519 sq ft)
Shop No. 4A: 63 sq m (683 sq ft)
Open plan retail, storage, office, wc
Shop No.4: 78 sq m (836 sq ft)
Open plan retail, office, storage, wc
First Floor: 88 sq m (956 sq ft)
Vacant offices
Total gia: 229 sq m (2,475 sq ft)

Residential development potential for 2 self-contained flats at first floor and 1 studio flat in the loft space. Adjoining building has been entirely converted into residential, providing further development potential of the ground floor shop, subject to planning.

Tenancy:
Shop No.4A is at present let to Coral Racing Limited for a term of 10 Years from 1st September 2010 (holding over) at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Tenant confirmed they will renew lease at the same rent. Shop No.4 is at present vacant. Erv: £23,000 p.a.

Location:
Royston is a town and civil parish in the District of North Hertfordshire. The property is situated in the heart of the town centre with retail occupiers nearby including Lloyds Bank, Costa Coffee, Domino`s Pizza, jd Wetherspoon, Boots Pharmacy and many more. Royston Train station is situated 10min walk away, providing direct and regular services to London King`s Cross (50min), Cambridge (15min) and Brighton (2h 11min).