The premises comprise a ground floor lockup shop currently let together with a 2-bedroomed over which has been sold on a long leasehold interest.
Location
Situated in this busy, bustling High Street being the centre shop of a terrace of three on the north side of the road, being between Gorringe estate agents and Volkan Grill. Other businesses located in the vicinity include Oxfam, Dominos Pizza and a fish & chip shop.
Accommodation
SHOP
Internal width - 15’ (4.6m)
Total shop depth - 25’9” (7.8m)
386 sq ft (35.9 sq m)
Arcaded shopfront with security grilles, carpet and strip lights
Partitioned from:
Rear stockroom - 15’ x 10’3” (4.6m x 3.1m) - 154 sq ft (14.3 sq m)
Door to:
Rear lobby - leading to cloakroom with low level w.c. + hand basin.
Door to rear.
Total ground floor area - 540 sq ft (50.2 sq m)
Terms
FLAT
Sold on a long leasehold basis and comprising 2 bedrooms, lounge, kitchen & bathroom. Originally sold on a 99 year lease from April 2006 but in December 2021 this was extended to April 2180.
The flat occupier pays a service charge of £300 per annum as a contribution to external maintenance including repair & maintenance of the roof, external walls, external decorating + building insurance.
Shop lease
The shop is held for a term of 10 years from August 2015 with a rent review at the 5th year and expiring July 2025. There was a tenant’s only break clause at the fifth anniversary which was not operated. The rent under the lease terms is £15,000 pa but the tenant is currently paying £12,000 pa having received a discount during the Covid lockdown but which has not been removed. The lease is on an internal repairing & insuring basis + a service charge. The tenant pays a reasonable proportion of the costs of maintaining the exterior & roof.
The shop has traded for over 20 years as a successful, independent shoe shop, originally being run by the owners of the property and subsequently was acquired by the former manager who has continued to trade successfully.
RATES
Local Authority: Wealden
SBR (23/24): 49.9p
Shop Rateable value : £5,300
N.b. Eligible businesses occupying a property with a rateable value of less than £15,000 may be entitled to small business rate relief with properties having a rateable value of £12,000 or less paying no rates. Further details may be found at www.gov.uk/apply-for-business-rate-relief.
PRICE
£185,000 for the freehold subject to the existing tenancies.
VAT
Under the Finance Act 1989 VAT may be chargeable on the price. It is recommended that a prospective purchaser should make their own enquiries to establish whether or not VAT is chargeable prior to entering into an agreement.
SERVICES
The mention of any appliances and/or services in these details does not imply they are in full and efficient working order.
EPC
The Vendor has been advised that an energy performance certificate is required.