Business for Sale in Sutton Bridge, Lincolnshire FREEHOLD MIXED USE INVESTMENT PROPERTY – SUTTON BRIDGE, LINCS
- For Sale
- Investment Properties
- Business Rates
- The residential units are currently within Council Tax Band A. The tenant of the commercial unit is responsible for the business rates payable on the premises.
- Ground Floor Let Commercial Unit
- Prominent Building Dating Back to 1865
- Scope for Renovation
- Shop & 1 Bedsit Generating £1,085pm
- Close to Amenities
- 4 x Bedsits on 1st & 2nd Floor
- 1 Bedsit Let – 3 Vacant
- Main Road Location
- No Upward Chain
- Call to Arrange a Viewing
This mixed use property comprises of a ground floor commercial unit currently let together with 4 residential bedsit units on the 1st and 2nd floor, one of which is included within the lease of the ground floor unit, with the remaining 3 units currently vacant.
The property is a prominent building dating back to at least 1865 having once been a United Methodist Church and is situated in the centre of the village, close to nearby bus stops and local amenities. It is an interesting and attractive property with individual window and brickwork features.
Sutton Bridge is a village in the South Holland district of Lincolnshire and can be found approximately 7 miles north from Wisbech and 9 miles west from Kings Lynn. The village lies very close to the county borders of both Norfolk and Cambridgeshire in the far south east of Lincolnshire just off the main A17 road.
The ground floor commercial premises comprises of a fast food takeaway with a customer service counter to the front and good sized kitchen and preparation rooms to the rear. The shop has a frontage of 4.7m wide extending to 7.19m to the rear and a depth of 10.8m. It is currently let on a 20 year lease from the 14th October 2014 to include the first floor bedsit unit known as ‘Flat 4’. The vendor advises that the current rent received under the lease is £1,085 per month. The property is sold subject to this lease.
In addition to ‘Flat 4’ included with the ground floor commercial property unit there are 3 further bedsit units, one on the first floor with the other two being found on the second floor.
The flats are accessed via their own entrance door at street level entering into a small lobby with stairs leading up to the two units on the first floor. The vacant unit measures 4.87m x 5.44m overall to include the bathroom with a good size bedsit room with kitchen area and bathroom off with bath, w.c and sink.
From the landing a further set of stairs lead up to the second floor landing and stairs with one unit found to the rear and the other to the front. Both units are of similar size with one being 7.37m x 4.37m and the other 7.27m x 4.25m overall. Each contains a large bedsit room with kitchen to one end and separate bathroom off.
Whilst the property would benefit from a programme of renovation and redecoration it does have the potential, once completed, to provide attractive and good sized accommodation whilst having the benefit of an immediate income to assist cash flow whilst works are being undertaken.
This property is well worth a look and so we would encourage you to contact us at your earliest convenience to arrange a viewing.
The residential units are currently within Council Tax Band A.
The tenant of the commercial unit is responsible for the business rates payable on the premises.
This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to the rates that will apply to a new owner.
Energy Performance Certificate's available on request.
For the benefit of the Freehold Property subject to the existing Lease in respect of the ground floor commercial unit and 1 first floor bedsit unit.
Strictly by appointment only, please get in touch to make an appointment.
We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.
BUSINESS TO SELL:
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1. Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
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Your Regional Director Chris Ruggles
EM&F East Anglia
116 - 118 Prince of Wales Road