Retail premises to let in High Street, Long Eaton, Nottingham NG10

Location

The premises are situated within Long Eaton Town Centre on the pedestrianised prime pitch of High Street.

There is ample on-street and pay and display car parking off Clay Street and Cross Street.

The subject premises are adjacent to W H Smiths, Boots the Chemists and B & M Bargains with Ryman Stationers, Lighthouse Charity and Peacocks opposite.

Description

The premises comprise a main ground floor sales area with suspended ceilings. There is an upper ground floor rear store, kitchen and separate toilet facility.

There is a side rear fire/loading door to shared yard and access to Gibb Street.

The first floor is to be converted to 4 studio apartments with new external staircase to rear and not part of the letting.

Accommodation

ground floor

Ground floor sales – 140 sq m (1,508 sq ft)
Ground floor ancillary – 29 sq m ( 312 sq ft)
WC Facility

Total net area - 169 sq m (1,820 sq ft)

Lease

The ground floor premises are available to let by way of a new Internal Repairing and Insuring lease (plus service charge) for a term of years to be agreed.

Rental

£20,000 pax subject to 3 yearly reviews.

Rating assessment

The premises are assessed as a whole property as “shop and premises” in the 2023 List with a Rateable Value of £36,000.

This will be split once the upper floor is converted to studio apartments and an old external store has been removed. This would reduce the rv by £2,263.

Retail, bar, restaurant, and leisure premises are eligible for a 75% reduction April 2023-March 2024 (subject to a maximum cap).

Interested parties are asked to take their own enquiries in respect of the Local Rating Authority Erewash Borough Council or the Valuation Office Agency.

Planning

The last use under the old Use Classes Order was an A1 (retail) use. This comes within Use Class E (1st September 2020) and this includes alternative Financial & Professional Services (under the old A2), Restaurants and Cafes (under the old A3), Offices (under the old Class B1(a) and, Research & Development (under the old Class B1(b)).

The new Use Classes also includes Clinics, Health Centres, Creches, Gymnasiums or Indoor Sports and Recreation under Class E (having been formerly within Class D1 and D2).

We understand that the premises are within the Long Eaton Conservation Area and the applicants should check if there are any restrictions applicable.

Neither the landlords nor New West Ltd offer any warranty in respect of the Planning (existing or proposed) Fire or Building Regulations and interested parties must consult with the Local Planning Authority Erewash Borough Council telephone: Email:

VAT

We understand that VAT will not be charged on the rental. However, the position regarding VAT is reserved at all times.

Legal fees

In respect of a letting the incoming tenants to be responsible for the landlord’s legal costs incurred in the transaction together with any Stamp Duty or VAT thereon.

Commercial energy performance certificate

The premises are assessed as E105, certificate reference no: A copy of the Energy Performance Certificate and Recommendations Report can be made available upon request.

Buildings insurance

The landlords insure the buildings as a whole and will reclaim a fair proportion of the annual insurance premium by way of additional rental.

Money laundering policy

In accordance with Money Laundering Regulations, two forms of id and confirmation of the source of funding will be required from the successful tenant.