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Flats for auction in Cambridgeshire

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** UNSOLD - AVAILABLE AT £40,000 **

A modern detached block arranged as eight purpose built flats. Ground Rent Investment let at £2,000 per annum.

By Order of the Administrators

Tenure
Freehold.

Location
Cambridge is a historic and beautiful city located about 60 miles from London, home to one of the world’s most prestigious universities and an important regional technology centre
Impington village is situated about 4 miles north of the city
Merrington Place runs northwards off Impington Lane
Local shops are nearby, whilst the retail and commercial centre of Cambridge is within easy reach
Access to the A14, A10 and M11 provides links to the A11, A1, Stansted Airport and M25
Cambridge North

Description
A modern detached three storey block arranged as eight purpose built flats

Accommodation and Tenancies
Eight flats, each sold on a 125 year lease from 1st November 2010 at a ground rent of £250, doubling every 25 years of the term
Rights of first refusal do not apply
Total Current Ground Rent £2,000 per annum

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15-29, Merrington Place, Cambridge, CB24 9AL
A modern detached block arranged as eight purpose built flats
Type: Flat, Residential
Location: 15-29 Merrington Place, Cambridge, CB24 9AL
Images: 1
Brochures: 1
View Property
** Unsold, the last bid was £175,000 and is available at £180,000 **

LOCATION
Summary: The property fronts Canal Street in the town centre
Miles: King's Lynn 13.9 miles, Peterborough 22 miles
Roads: A1101, B198, A47
Buses: Wisbech (Horsefair Shopping Centre)
Nearby Occupiers: Coral, Costa Coffee, Poundland, Holland & Barrett

DESCRIPTION
An end of terrace Grade II Listed property arranged as a ground floor café/restaurant and a recently refurbished split level two bedroom self contained flat above. The property is located near the city centre and trades as The Bygones Café and the flat is accessed from the side of the building. We have been informed that the vendor extensively refurbished the flat about 1 year ago and has served a rent review notice on the commercial element at a rent of £12,600 per annum (refer to the legal pack).

TENURE
Freehold

PLANNING
Fenland District Council (01354 654321) www.fenland.gov.uk

VAT
Refer to the legal documentation

ENERGY PERFORMANCE CERTIFICATE
See website

Floor Use SQ M SQ FT Tenant Lease Terms Rent £ PA
TOTAL £21,600
Ground, part first, part second Part first, part second Café/restaurant Residential (3) Kitchen 57.60 Store 11.10 620 120 T/A Bygones Café (1) Individual 6 years from 05/2014 (1) AST from 06/2017 £9,600 (2) £12,000

(1) We have been informed that the tenant has been in occupation for 18 years.
(2) Rent review notice served at £12,600 per annum
(3) We have been informed that the flat was refurbished last year.
All measurements have been provided by the vendor

JOINT AUCTIONEERS
Quest Property Consultants Ltd

SELLER'S SOLICITOR
Leonard Gray LLP
John Appleby
01245 504904
jappleby@leonardgray.co.uk
4-6, Little Church Street, Wisbech, PE13 1BG
Freehold restaurant and residential investment. Flat recently refurbished. Producing £21,600 per annum
Type: Flat, General Retail, Mixed Use, Residential, Restaurant/Cafes, Retail, Other Property Types & Opportunities
Location: 4-6 Little Church Street, Wisbech, PE13 1BG
Size: 68.7 Sq M
Images: 7
Brochures: 1
View Property
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