Sold £70,000
- Retail Property (high street)
- Tenure: Freehold
Call the team on 01603 505 100 for more information
Freehold Shop & Residential Ground Rent Investment
This freehold premises comprises of a recently let shop producing a rental income of £7,500pa and a two storey flat let on a long lease producing a ground rent income of £150pa. The shop is located close to the town centre surrounded by a variety of established business and a few steps from the Market Place. Derham is a busy market town well served by public transport and road links to other major local centres including Norwich (13 miles east).
Tenure
Freehold
Accommodation and Tenancy Schedule
Ground Floor: Shop, kitchenette and cloakroom. Let to Jazzy Cupcakes: Rent £7,500pa, 5 year lease from April 2021 (3 year break) Two Upper Floors: 2 bed flat. Subject to a lease for a term of 125 years from 2022. Total income £7,650pa
VAT
This transaction is not subject to VAT.
Business Rates
Rateable value £3,100
Energy Efficiency Rating (EPC)
Current Rating Shop D, Flat D
Services
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
Local Authority
Breckland Council
Solicitors
Ward Gethin Archer, Ref: Tracy Guest, Tel: 01362 692182
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Additional Fees
Buyer's Premium - £600 inc VAT payable on exchange of contracts.
Administration Charge - 0.3% inc VAT of the purchase price, subject to a miniumum of £1200 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
