Investment opportunity for four freehold shops and former first floor art gallery in the centre of Historic Cathedral City of Ely

A great investment opportunity available in the centre of Ely with good road side frontage and passing trade which fronts onto Lynn Road and St Marys Road. The property offers potential for a new owner to buy as either a buy to let investment, run a business/businesses from or look at the redevelopment opportunities subject to the relevant consents being in place. We have been advised that the whole property was let on a long term lease and the rent could achieve in the region of £36,000-£38,000 per annum with some internal improvements. Please note this is just a guide and buyers are advised to make their own independent enquiries.

Tenure

Freehold

Accomodation

Currently 1a St Marys Road is a sweet shop and is tenanted on a flexible arrangement and the tenant may consider a more permanent arrangement with a new owner. 1 Lynn Road is a former 1st floor art studio/gallery and basement room which could be used for storage which has previously been used for selling records. Please note there is a separate access via a gate through to an inner courtyard with a door leading upstairs for anyone considering redeveloping upstairs. Some buyers may wish to look into the possibly of converting upstairs to a two bedroom residential apartment which could work well given the location for an Air BNB or to live in subject to the relevant consents. 1a Lynn Road has been recently used as a bookshop which has a kitchen and W/C. 1B Lynn road is currently a computer shop and the tenant is on a flexible arrangement who may consider a more longer term arrangement with a new landlord.

Energy Efficiency Rating (EPC)

Current Rating 1, 1a & 1b Lynn Road - C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

East Cambridgeshire District Council

Solicitors

Stanton & Partners SSW Solicitors, Ref: Claire Stanton, Tel: 07557196612

Additional Fees

Buyer's Premium - £1200 inc VAT payable on exchange of contracts.

Administration Charge - £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.