2-4 St Andrews Street North was originally constructed as 3 terraced properties that have been altered over the years to provide a basement retail unit, 2 ground floor shops and 2 offices over with attics with parking to the rear for up to 5 cars.
The basement is let as a barbers until 2028, the ground, first and attic accommodation is vacant and in need of renovation and is suitable for a wide range of town centre uses subject to planning permission.
The property is for sale on a freehold basis subject to the tenancy of the basement (remainder with vacant possession) with the property and the car parking being available individually or together.
( Agency Pilot Software Ref: 714 )
Location
2-4 St Andrews Street North and Parking to the rear of 104-108 Risbygate Street, Bury St Edmunds, Suffolk
Accommodation
The current layout of the accommodation is as follows.
2-4 St Andrews Street North
2 St Andrews Street North
Ground, first and second floor offices 69.56 sq m (749 sq ft)
2a St Andrews Street North
Retail Basement 49.84 sq m (536 sq ft)
3 St Andrews Street North
Ground floor shop 18.69 sq m (201 sq ft)
4 St Andrews Street North
Ground floor shop 19.43 sq m (209 sq ft)
4a St Andrews Street North
First and second floor offices 32.14 sq m (346 sq ft)
Total Net Internal Area approximately 189.66 sq m (2,041 sq ft)
Total Gross Internal Area 247.1 sq m (2,659 sq ft)
Terms
Car Parking
The car parking is to the rear of 104-108 Risbygate Street. There is an interconnecting door at the rear of St Andrews Street North. There is a brick structure within the area to be sold and a number of open parking bays. Please refer to the plans.
Availability
The property and car parking are available individually or together on a freehold basis.
The basement of the 2-4 St Andrews Street North is subject to a lease dated 18 September 2013 for a term of 15 years, subject to review in 2016, 2019 and 2022 at an initial rent of £5,100 per annum, which is let on an effectively full repairing insuring lease for a retail use, currently a Barbers Shop.
Guide Price
2-4 St Andrews Street North Offers invited in excess of £200,000
Car Parking Offers invited in excess of £75,000 All offers are to be made in writing to Merrifields office by no later than the 14th September 2017. Please contact our office for information required to be included in your offer.
VAT
The property is not opted for VAT.
Business Rates
The properties are rated in the 2017 List as follows:
2a St Andrews Street North £5,100
2b St Andrews Street North £5,100
3 St Andrews Street North £4,800
4 St Andrews Street North £5,400
4a St Andrews Street North £2,650
Service Charge
The basement tenant is required to pay a fair and reasonable proportion of the landlord’s costs of maintaining the common areas of the building. We are not aware of any obligations on the owners of the properties at 104-108 Risbygate Street to contribute to the cost of repairing the common access to the car parking spaces.
Costs
Each party will pay their own costs with the purchaser covering any abortive costs incurred by the vendor.
Planning and Use
The properties have been used for Retail uses on the ground and first floor and Offices on the upper parts, but the premises have been vacant for some time. The premises should be suitable for a wide range of town centre uses. The car parking spaces may be suitable for redevelopment. Prospective purchasers should make their own enquiries with the local authority.
Energy Performance Certificate
The Energy Performance Ratings are to be confirmed if required.
Specification
- Edge of town centre commercial building, part let, in need of refurbishment and renovation and suitable for a wide range of town centre uses
- Gross Internal Area about 247.1 sq m (2,659 sq ft) and parking for five cars
- Offers invited for the Freehold Interest