Freehold shop and residential ground rent investment
Prominent end terrace shop let to an established charity shop currently paying a rent of £8,000pa, 5 year lease from May 2019. The upper floor comprises a 2 bedroom flat which has been sold off on a new 125 year lease. Ground rent income of £150pa. Gross income £8,150pa The shop is a short walk from the Market Place and town centre shops. Dereham is a busy market town 13 miles west of Norwich just off the A47 trunk road.
Tenure
Freehold
Accommodation
Ground floor: Shop with storage 520 sq/ft First Floor: Rear access, kitchen, lounge, 2 bedrooms, bathroom
Tenancy Details
Let to Charity shop, Rent £8,000 pa, 5 year lease from May 2019 Two Upper Floors: 2 bed flat, subject to a lease for a term of 125 years from 2022. Ground rent £150pa. Total income £8,150pa
VAT
This transaction is not subject to VAT
Business Rates
Rateable Value £5,800
Energy Efficiency Rating (EPC)
Current Rating Shop C, Flat E
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.