Retail investment on busy neighbourhood parade of a ground and lower ground floor held on a long lease.
( Agency Pilot Software Ref: 1004 )
Location
The property is located on Wayfield Road in Chatham in a densely populated suburb of Chatham serving the local area. Wayfield Road is approximately 2 miles south of Chatham Town Centre and within 3 miles of J3 of the M2 motorway. Other occupiers include Post office, Co-op, Hairdressers
Accommodation
Frontage 17ft (5.17 m)
Retail Area 601 sq ft (55.89 sq m)
Basement Store 296 sq ft (27.51 sq m)
Total 897 sq ft (83.40 sq m)
Terms
Rateable Value Shop: £7,200 ATM: £900 The property is therefore eligible for full rates relief offering an attractive trading location.
EPC The property has an EPC rating of D
VAT We understand the property is not elected for VAT but purchasers should satisfy themselves in this regard.
Tenancy The proeprty is let and currently trading as a convenience store on the following principle terms:
Passing Rent: £10,000 pa Term: 20 years from 1st September 2015 Repairs: Full repairing inclusive of service charge as payable under the head lease Insuring: landlord to insure and tenant to reimburse
Rent reviews: 4 yearly upwards only to market rent Break Clause: Tenant break 1st September 2025, 6 months notice A copy of the occupational lease is available on request
Specification
- Located on busy neighbourhood parade
- Rear access and loading
- Large communal car park
- Income of £10,000 per annum
- £145,000 for the long leasehold