The property comprises a traditional brick built 2 storey retail unit under a pitched tiled roof with a 2 storey rear extension. There are self-contained offices at first floor level at the front with access from Carolgate. The shop unit provides well-proportioned ground floor sales with storage and staff facilities at first floor level to the rear.
The ground floor is let to M&Co Trading Ltd at a current rent of £40,000 per annum exclusive on a 3 year FRI lease from 23rd December 2020, expiring 22nd December 2023. There is a mutual break option at the end of years 1 and 2, subject to 3 months prior notice. The lease is outside the security of tenure provisions of Sections 24-28 of the Landlord & Tenant Act 1954.
The first floor offices are separately let to NSL Ltd until 30th June 2022 at a current passing rent of £6,000 per annum exclusive equating to £6.50 psf.
Subject to obtaining the necessary planning consents, the first floor could convert to residential apartments.