The premises comprise a corner sited double fronted Convenience store plus 7 further shop units on ground floor and self contained residential on the upper parts, accessed from the rear of the parade.
The buildings are brick clad and concrete frame construction under pitched and tiled roofs.
The property benefits from ample off street car parking to the front of the parade. There are garages and tenant parking to the rear of the premises.
Location
St Ives is a prosperous and historic Cambridgeshire market town, approximately 96 km (60 miles) north of London, 24 km (15 miles) north of Cambridge and 8 km (5 miles) east of Huntingdon.
The town benefits from good road communications being served by the A1 (M) and the M11 via the A14 which also links the East coast ports of Felixstowe and Harwich. In addition, Huntingdon rail station is easily accessible and provides a fastest journey time to London Kings Cross of 1 hour 15 minutes.
The town attracts many people with its regular markets held every Monday and Friday, large Bank Holiday markets and an award winning Farmers’ Market held on the first and third Saturday of each month.
This corner sited parade is located on the junction of Ramsey Road and Kings Hedges. It serves the surrounding well populated area. It is opposite to the Spinney Medical Centre.
Accommodation
1 Kings Hedges - A F Blackmore & Sons Ltd - Shop - Retail - 104.52 sq m (1,225 sq ft) - Store - 76.64 sq m (825 sq ft)
1A Kings Hedges - Residential - 4 rooms
3 Kings Hedges (Garages 1 2 3 +1 unnumbered) - St Ives Drycleaners Gultc Ozsan (Guarantor) - Shop - Retail - 49.79 sq m (536 sq ft)
3A - Residential - 2 Beds Reception Kitchen Bathroom & WC
5 Kings Hedges (Garage 7) - Stuart Denton Pitt - Shop - Retail - 49.61 sq m (543 sq ft)
5A - Residential - 2 Beds Reception Kitchen Bathroom & WC
7 Kings Hedges (Garages 4 & 5) - Hoang Lan Ngo & Hung Xung Vo - Takeaway - Retail - 71.91 sq m (774 sq ft)
7A - Christine Brument - Residential - 2 Beds Reception Kitchen Bathroom &WC
9 & 11 Kings Hedges (Garages 8 & 9) - Elmwood Healthcare Ltd - Shop - Retail - 108.7 sq m (1,170 sq ft)
9A - Residential - 2 Beds Reception Kitchen Bathroom & WC
11A - Residential - 2 Beds Reception Kitchen Bathroom & WC
13 Kings Hedges (Garages 10 & 11) - Germano Encarnacao Capontes - Takeaway - 51.84 sq m (558 sq ft)
13A - Residential - 2 Beds Reception Kitchen Bathroom & WC
80 Ramsey Road (Garage 6) - Xianshu Yu - Takeaway - 46.72 sq m (503 sq ft)
80A - Residential - 1 Bed Reception Kitchen Bathroom & WC
82 Ramsey Road (3 Unnumbred garages) - Nagireddy Pakanati - Shop - 55.93 sq m (602 sq ft)
82A - Residential - 2 Beds Reception Kitchen Bathroom & WC
Terms
COVENANT - The main covenant A F Blakemore & Sons Limited for the year ending 2022 posted a turnover of £XXX billion, pre-tax profit of £XXX million and net assets of £XXX million.
TENANCIES & ACCOMMODATION - The shops are all held on FRI leases and include a service charge provision.
Please see attached brochure for more information.
TENURE - Freehold.
SUMMARY OF LEASES/TENANCIES - The total passing annual rent from the block is £XXX per annum. Further details provided in the schedules.
PROPOSAL - We have been instructed by the vendor to seek offers in the region of £XXX subject to contract.
A purchase at this level reflects a net initial yield of 7.5%
VAT - The property is not registered for Value Added Tax.
LEGAL COSTS - Each party to be responsible for their own legal costs incurred in this transaction.
Specification
- Anchored by a Spar Convenience Store
- (AF Blackmore & Sons Ltd)
- Self-Contained residential upper parts
- Freehold
- Current total rent £XXX pa
- Offers sought in the region of £XXX stc
- Net Initial yield of 7.5%