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Agent's details

11-13 North Street, Crowland, Peterborough, PE6 0EG

For sale: POA|2,579 Sq Ft|Flat, General Retail, Retail - High Street, Retail - Out of Town, Office, Mixed Use, Residential, Retail, Offices, Other Property Types & Opportunities

Property details

FOR SALEPOA
SIZE2,579 Sq Ft
ADDRESS11-13 North Street, Crowland, Peterborough, PE6 0EG
TYPEFlat, General Retail, Retail - High Street, Retail - Out of Town, Office, Mixed Use, Residential, Retail, Offices, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON17th September 2021

Description

LOCATION
Crowland is situated approximately 10 miles north of Peterborough and 10 miles south of Spalding and lies at the intersection of the A1073 and the B1166 roads. The town dates back to the 7th Century and is home to Crowland Abbey and the unique Triangular Bridge. Crowland is a growing town benefiting from the recently completed bypass.

DESCRIPTION
The property is located in a prominent position in the centre of the town with on street parking along North Street. The property comprises two self-contained shops on the ground floor and three self-contained flats on the first floor as follows:

11 North Street – 43.24 sq m (465 sq ft) - Chemical Box Limited, New lease at £7,500 pa
13 North Street – 58.73 sq m (632 sq ft) - City & County Estate Agents. New lease at £12,500 pa.
Flat 1 – 52 Sq m (600 Sq ft) - One bedroom flat. Short hold tenancy at £4,800 pa.
Flat 2 – 41 Sq m (441 Sq ft) - One bedroom flat. Short hold tenancy at £5,100 pa.
Flat 3 – 41 Sq m (441 Sq ft) - One bedroom flat. Short hold tenancy at £5,100 pa.

Total rental yield= £35,000 per annum.

LEASE DETAILS
Full details will be provided on application. In short, City and County have renewed their lease for a further ten years at a rent of £12,500 per annum with tenant break at the fifth anniversary. Chemical Box Limited have signed a new 5 year lease with a tenant break at the third anniversary at a rent of £7,500 per annum. The flats are occupied by way of assured shorthold tenancies. This property now produces a total of £35,000 per annum.

TERMS
The property is for sale freehold subject to the leases. Offers in the region of £515,000 are sought. The 2 shops have the Options to Tax in place. VAT will not be charged on the 3 flats. Each party to pay their own legal costs incurred.

Location

marker
Location: 11-13 North Street, Crowland, Peterborough, PE6 0EG

Spalding (7.7 miles)

Peterborough (7.8 miles)

Whittlesea (8.9 miles)

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