For SaleRetail/Residential Investment

107 & 109, High Street, Collingham, Newark, Nottinghamshire, NG23 7NG

Description

107 High Street
The two storey retail premises have been redecorated to an excellent standard and comprise ground floor retail sales/reception area, kitchen, WC, store and four consulting rooms on the first floor.

109 High Street
To the rear there is an attached self-contained house comprising kitchen and living room on the ground floor, with 5 bedrooms, a bathroom and attic room to the first floor.

The property has recently been redecorated throughout with new carpets and painted walls/ceilings.

Coach House
The property offers an additional two storey outbuilding with terraced area and parking which, in the agents opinion, provides an opportunity for added value through redevelopment, subject to all the necessary consents.

LOCATION

Collingham is located on the banks of the River Trent, just off the A46. It is approximately 6 miles from Newark on Trent, 15 miles from the city of Lincoln and 28 miles from the city of Nottingham.

With a population in the region of 3,000, the village is popular and well served with an excellent range of amenities including primary school, medical centre, dentist, post office, butcher, police centre and community facilities, and a number of convenience stores.

The village also benefits from a thriving and active community, which includes three public houses, cricket, football and tennis clubs. It is well connected with direct rail services to Lincoln, Newark and Nottingham and regular bus services to and from the village.

SERVICES

We understand that all mains services including gas, gas fired central heating system, water, electricity and drainage are available and connected independently to both the retail premises and house. These have not been tested and interested parties are advised to make their own investigations in this regard.

TOWN AND COUNTRY PLANNING

We understand that the retail premises has an established use falling within Class E (Commercial, Business & Services Uses), and the house within Class C3 (Housing/Dwellings) of the Town & Country Planning (Use Classes) Order 1987 (as amended).

ACCOMMODATION

Having measured the property in accordance with the prevailing RICS Code of Measuring Practice, we calculate that it provides the following floor area.

107 High Street:
Ground floor sales:  64.8 sq m (690 sq ft)
Kitchen:  6.84 sq m (73.57 sq ft)
Store:  3.33 sq m (35.81 sq ft)
First Floor Room 1:   10.36 sq m (112 sq ft)
First Floor Room 2:   8.6 sq m (93 sq ft)
First Floor Room 3:   6.56 sq m (71 sq ft)
First Floor Room 4:   9.48 sq m (102 sq ft)

Total NIA: 109.25 sq m (1,176 sq ft)

A floor plan for the whole property can be provided on request.

RATES

107 High Street
Charging Authority: Newark & Sherwood D.C.
Description: Shop & Premises
Rateable value: £9,100
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.

109 High Street : Council Tax Band: C

TENURE

The property will be Sold with vacant possession of 109 High Street.

This property is currently on the market and available To Let at a rent of £795 per calendar month.

The ground floor retail premises is Let on an effective Full Repairing and Insuring lease dated 6th November 2017 at a passing rent of £12,000 per annum exclusive.   Further information can be provided on application.

PRICE

Guide Price :  £395,000

VAT

We understand that VAT will not be payable in addition to the purchase price.

LEGAL COSTS

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