TO LET - Prominent Lock-Up Shop with Hot Food Takeaway Consent on a Busy Arterial Road
The property consists a ground floor lock-up shop, forming part of this 2 storey parade of shops, with a further 3 shops forming the rest of this busy retail parade.
Location
Cove Road is a busy vehicle route connecting Cove Village with Farnborough Town Centre, within the locality there is a mix of commercial premises (mainly retail), and some residential flats/houses.
Accommodation
Ground Floor Shop 296 ft² (27.94 m²)
Store/accessway 40 ft² ( 3.71 m²)
Total Floor Area 336 ft² (31.65 m²)
Terms
LEASE TERMS
The existing lease can be assigned which has around 6 years remaining with the lease expiry due on the 30th September 2029. The lease is included within the renewal and compensation provisions of the 1954 Landlord and Tenant Act. Alternatively, consideration will be given to surrendering the existing lease and a regrant of a new lease.
RENT
The current rent is passing at £XXX pax, however, there will be a fixed uplift on the rent review which is due on the 1 st October 2024 up to a rent of £XXX pax.
PREMIUM
A premium is being sort by the outgoing tenants for their cooking/extraction equipment and the rarity of a shop with a hot food consent in a busy trading location.
VAT
The premises are not elected for VAT.
BUILDING REPAIR AND MAINTENANCE
The tenant to be recharged the cost of any works that are necessary to the exterior of the building.
BUILDINGS INSURANCE
For April 2023/2024 a figure of £XXX
BUSINESS RATES
We understand from our client’s investigations that the Rateable Value for the shop is £XXX equating to £XXX rates payable (although we understand that all business rates for small businesses are being capped at £XXX payable for the year until April 2024). HOWEVER, if the property is to be your only business premises, then the property will actually qualify for 100% rates relief. Although we recommend that interested parties make their own investigations with Rushmoor Borough Council on 01252 516222 for confirmation.
LEGAL COSTS
Each party are to be responsible for their own legal costs involved in this transaction.
DECLARATION OF FINANCIAL INTEREST
We confirm that the director of Clare & Company has a financial interest within the ownership of this property.
ENERGY PERFORMANCE CERTIFICATE
C-54
Specification
- PROMINENT SHOP ON A BUSY ROAD - HOT FOOD USE
- LONG STANDING HOT FOOD BUSINESS
- PARKING TO THE FRONT OF THE PROPERTY
- TOILET FACILITY
- ABILITY TO ACCESS/LOAD TO THE REAR