VAT Free Commercial/Residential Investment

• 2 Commercial Units and 4 Flats
• Advertising Signage Board Income
• Current Income £42,600 per annum
• Potential Income £50,600 per annum
• Adjacent to Union Square Shopping Centre
• Offers Invited

LOCATION

The property is located on the west side of Market Street, close to the Market Street entrance to Union Square Shopping Centre and a short distance to the south of the city centre.

Market Street forms part of the A956 trunk road which is one of the main routes connecting the north and south of the city.

Nearby occupiers include Decathlon, Hobbycraft and Next.

DESCRIPTION

The subjects comprise a restaurant and a hot food takeaway on the ground floor and 4, one-bedroom flats forming the entire building of a traditional end terraced, 3 storey building of granite construction under a pitched and slated roof. A single storey extension appends the rear and is of traditional construction with a pitched and slated roof. An advertising signage board is affixed to the gable of the premises

FLOOR AREAS

The subjects provide the following net internal floor areas, measured in accordance with the RICS Code of Measuring Practice (Sixth Edition)

Commercial

148 Market Street – Team Barakah Ltd        77.69 sq m        (836 sq ft)

152 Market Street – Vacant                             74.96 sq m        (807 sq ft)

Residential

150 – Flat A – 1^st Floor                                                  52 sq m            (558 sq ft)

150 – Flat B – 1^st Floor                                                  50 sq m            (538 sq ft)

150 – Flat C – 2^nd Floor                                                 52 sq m            (558 sq ft)

150 – Flat D – 2^nd Floor                                                 50 sq m            (538 sq ft)

TENANCIES

 The portfolio is income producing and the lease terms can be summarised as follows:

 PRICE

 Offers invited

VAT

The property has not been opted to tax and therefore no VAT is payable on any rent/price quoted.

RATING ASSESSMENT

The valuation role shows the following rateable values with effect from 1^st April 2017

148 Market Street                                  £5,500

152 Market Street                                  £5,100

Advertising Board                                  £17,500

Flat A, 150 Market Street                       Council tax band A

Flat B, 150 Market Street                       Council tax band B

Flat C, 150 Market Street                       Council tax band A

Flat D, 150 Market Street                       Council tax band B

The Uniform Business Rate for the year 2023/2024 is 49.8p in the £. Water and waste water rates are also payable.

The commercial premises both quality for 100% rates relief through the Small Business Bonus Scheme

ENERGY PERFORMANCE CERTIFICATE

A copy of the Energy Performance Certificates is available on request

ENTRY

On conclusion of all legalities.

CLOSING DATE

Whilst a closing date may not necessarily be set all interested parties are advised to note their interest in writing to the sole selling agent.

LEGAL COSTS

Each party to bear their own costs in relation to the transaction. The purchaser will be responsible for payment of LBTT and registration dues if applicable.

OFFERS / VIEWING

All offers should be submitted in writing to the sole agents who will also make arrangements to view.