13 North Street, Crowland, Peterborough, PE6 0EP

Ground floor unit comprising a main retail area, seperate office and W.C and kitchenette to the rear. The property is let to City & County UK Limited and benefits from a prominent shop frontage, tiled floor and street parking to the front.

Location

This property is situated along North Street in the town centre of Crowland. Crowland is a growing town that dates back to the 7th Century and benefits from a recently completed bypass. Crowland is located approximately 10 miles north east of Peterborough, 8 miles east of Market Deeping, 10 miles south of Spalding and benefits from good transport links with the A47 and A16 close by.

Description

This ground floor unit comprises a main retail area with seperate office, W.C and kitchen to the rear. The property benefits from a prominent shop frontage, tiled floor and street parking to the front.

Tenancy information

13 North Street is let to City & County UK Limited on a 10 year internal repairing and insurance lease commencing on the 1st May 2021 at a current rent of £15,675 plus VAT per annum. There is a tenant break option on the 30 April 2026. Please contact the agent for a copy of the lease.

Accommodation

We have been informed that the net internal floor area is as followed;

NIA- 58.73 Sq m (632 Sq ft)

Services

We understand that mains electric, water and drainage are connected. None of the heating systems or any other plant and equipment have been tested by Commercial List and prospective purchasers must rely on their own investigations as to their existence and condition.

Business rates

From enquiries made though the Valuation Office website, we understand that the following rating assessment applies;

Rateable value: £9,200

This property is eligible for small business rates relief. However interested parties should make their own enquiries as to the amount of rates payable.

Terms

The property is FOR SALE on a long leasehold of 999 years subject to the current tenancy in place at an asking price of £160,000 plus VAT which represents a 9.79% Net Initial Yield.

Epc

Energy rating: C

Vat

We understand that the property is elected for VAT. However, the sale can be treated as a TOGC and therefore VAT would not be payable on the purchase price.

Legal costs

Each party to pay their own legal costs incurred.

Viewing

For an appointment to view or further information please contact;

Charlie Burrows
e: charlieb@commerciallist.co.uk t: 07923 448308