Studio flat for sale

GREAT OPPORTUNITY: Castle Estate Agents are pleased to offer FOR SALE this large shop with a 134 year lease of the premises. Its a large double/triple frontage achieving ?12,500 per annum during the current lease. REF: RX278175-V6761EThe premises is situated in a fantastic trading location that is highly built up residential area, with a large development of flats above and next door to a cafe. The premises benefits from free time-restricted parking directly to the front of the unit.TenureOur client has a long lease on the property with approximately 134 years unexpired, with a ground rent payable at ?197.64 per annum. Our client's tenant has a 16-year lease from 21st June 2013 at a rental of ?12,500 per annum exclusive. The lease is subject to 4-yearly rent reviews, with the next review due in June 2025.PremisesA terrace retail shop with a large double/triple frontage, with fascia board and single glazed entrance door leading into the premises which measures approximately 979 sq. ft. with tiled flooring, suspended ceiling, panel lighting and is arranged as:Location The premises is located at an ideal trading location that is surrounded by residential properties, surrounded by a development of flats above and close to other commercial properties which helps with passing trade. The premises comes with parking directly to the front of the unitTenure The seller has a long lease on the property with approximately 134 years which is unexpired. The Ground rent is payable at ?197.64 per annum. The current tenant has a 16 year lease from the 21st June 2013 at a rental of ?12,500 per annum exclusive. The lease is subject to a 4 year rent reviews with the next rent reviews due in June 2025Premises This terraced retail shop with a large double/tipple frontage, with fascia board and angle glazed entrance door leading into the premises which measures approximately 979 sq.ft. with tilled flooring, suspended ceiling, panel lighting and is arranged as:Retail Zone A: 879 SQ.FT.Retails Zone B: 101 sq.ft.Business Rates The premises is subject to a rateable value of ?12,000 resulting in ZERO BUSINESS RATES PAYABLE, should small business rates relief apply to the tenant.