Retail premises to let in Institute Lane, Alfreton DE55

Location

The subject premises occupy a prominent location on the western side of the pedestrianised Institute Lane in Alfreton town centre, close to its junction with High Street.

Alfreton benefits from excellent road communications sitting adjacent to the A38 which links Junction 28 of the M1 motorway with Derby.

Institute Lane remains a prime retail location within Alfreton town centre with established retailers, including Boots, Greggs, Timpsons, Card Factory and Specsavers.

Description

The premises comprise a double fronted retail unit providing sales at ground floor level with the upper floors providing a combination of further sales with ancillary accommodation including storage, staff breakout room and male and female wc facilities.

A loading bay is located to the rear of the property accessed via New Street to the west.

Accommodation

The property has the following Net Internal Areas in accordance with the RICS Code of Measuring Practice, 6th Edition:

Ground Floor Sales: 208 sq m / 2,239 sq ft
Ground Floor Loading Bay: 17.24 sq m / 186 sq ft
Ground Floor Store: 7.38 sq m / 79 sq ft
First Floor Sales / Ancillary: 215.8 sq m / 2,323 sq ft
Total: 448.42 sq m / 4,427 sq ft

Terms of disposal

The premises are available from February 2024 by way of a new internal repairing and insuring lease for a term of years to be agreed.

Quoting rent

The property is available at a rental of:

£30,000 per annum exclusive

Business rates

From enquiries made of the voa website we understand that the property is currently assessed as follows:

Local Authority: Amber Valley District Council
Description: Shop & Premises
Rateable Value: £44,500

Service charge

A Service Charge is levied on an ad-hoc basis in respect of the structure of the building and communal areas to the rear. Further information is available from the Agent upon request.

Services

It is understood that mains gas, water and electricity are available and connected to the premises.

Planning

From enquiries made of Amber Valley District Council it is understood that the property currently has the benefit of a Class E Consent.

Alternative retail uses may be permitted, although interested parties are advised to make their own enquiries of Amber Valley District Council's Planning Department in respect of their proposed use.

VAT

All rents are quoted exclusive of VAT, if applicable.

Energy performance certificate

The property has an Energy Performance Asset Rating of C(75).

Legal costs

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