For Sale / To LetGround Floor Retail Unit with First Floor Apartment

55, High Street, Saxilby, Lincoln, Lincolnshire, LN1 2HA

Description

The ground floor self-contained retail lock-up is presented to an excellent standard and comprises ground floor retail sales area, store/kitchen and WC.

The first foor apartment comprises an attractive self-contained 3-bed apartment separately accessed.

Externally, there is a single car parking space.

LOCATION

The property is located centrally on the High Street, within the large popular village of Saxilby, which lies approximately 6 miles to the north west of Lincoln and affords easy access to the A46 Lincoln Bypass and the wider road network beyond.

The village has a resident population of circa 4,000 and offers a good range of local amenities, including a Co-op Convenience Store and Pharmacy, a Post Office, doctors surgery and three primary schools.

The upmarket Burton Waters development is located approximately 3 miles to the east on the road into Lincoln, where there is a David Lloyd Health Club and Tennis Centre, and a selection of good quality restaurants and upmarket retailers.

SERVICES

We understand that all mains services including gas, water, electricity and drainage are available and connected to the shop and apartment separately.  The shop and apartment have separate gas fired heating systems.

These have not been tested and interested parties are advised to make their own investigations to the relevant utility service providers.

TOWN AND COUNTRY PLANNING

We understand that the ground floor retail unit has an established use falling within Class E (Commercial, Business & Services), and the first floor flat within Class C3 (Housing/Dwellings) of the Town and Country Planning (Use Classes) Order 1987 (as amended).  Alternative uses may be appropriate subject to receipt of necessary Planning Consent.

RATES

Charging Authority:  West Lindsey District Council
Description:  Shop and Premises
Rateable value:  £8,600
UBR:  0.512
Period:  2020-2021

Multiplying the Rateable Value figure with the UBR multiplier gives the annual rates payable, excluding any transitional arrangements which may be applicable. For further information, please contact the Charging Authority.

It is understood that qualifying small businesses will benefit from up to 100% Small Business Rates Relief. Any prospective tenant is advised to check with the Local Charging Authority.

Apartment : Council Tax Band A

TENURE

The property will be sold with vacant possession of the ground floor retail premises.

The first floor apartment is currently let on an Assured Shorthold Tenancy at a passing rent of £525 per calendar month. We understand that it is the tenant’s intention to remain in occupation if possible.

Alternatively, the ground floor retail premises is available To Let by way of a new effective Full Repairing and Insuring lease for a minimum term of 5 years.

PRICE / RENT

Price:   OIRO £225,000
Rent:    £8,500 per annum exclusive

VAT

VAT may be charged in addition to the rent at the prevailing rate.

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in documenting the transaction.