52 Market Street, Ashby-de-la-zouch, Leicestershire

Guide Price £750,000

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Key Features

  • Ground floor let to Boots Opticians
  • Planning permission for the conversion of first floor offices to a 2 bed apartment (partially completed)
  • Rear occupied by Baby Planet
  • Total NIA 770 sq m / 8,287 sq ft
  • Current rental £54,700 per annum
  • Prime town centre location
  • Access from Market Street and South Street
  • Parking
  • Development potential and potential to increase rental

Description

Location

The property is located in the thriving market town of Ashby de la Zouch and benefits from an abundance of period buildings housing shops, bars and restaurants. Ashby de la Zouch is located on the Leicestershire/Staffordshire border and is well placed for commuting with the A42, A511 and A50 in close proximity, as well as the Midlands motorway network including, M1, M6, M6 Toll, M42 and M5.

Accommodation

52 Market Street is a late 18th century / early 19th century Grade II listed three storey building.



It consists of a ground floor retail unit, first and second floor offices / apartments and a rear section. There is an alleyway to the side of the property leading to the rear and access to the first and second floors.



The first floor has an office suite, currently vacant and a 2 bed apartment, currently partially completed. The top floor is an office suite which is let out.



To the rear is the building known as The Courtyard which is a detached brick-built unit under a pitch corrugated metal clad roof. This has access onto Market Street and shop front access and parking onto South Street.



Net Internal Areas:

Retail: 923 sq ft

1st floor apartment: 930 sq ft

1st floor office: 440 sq ft

2nd floor office: 758 sq ft

The Courtyard: 5,236 sq ft

Total: 8,287 sq ft

Price

Guide Price

£750,000

Planning

The first floor has obtained planning permission to turn it from offices into a 2 bed apartment.



We believe there is potential for further residential development at first and second floors, subject to planning.

Tenure

Boots Opticians 10 year lease from November 2012 £25,000 per annum



2nd floor office 7 year lease from February 2018 £6,700 per annum

with a break in February 2022



The Courtyard 10 year lease from April 2017 with £23,000 per annum

a rent review and break clause in

April 2023



We believe a 2 bed apartment in this area would achieve approximately £750 pcm.

Services

We understand that the property benefits from mains water, electricity and drainage.



None of the services have been tested and purchasers should note that it is their specific responsibility to make their own enquiries of the appropriate authorities as to the location, adequacy and availability of mains water, electricity, gas and drainage services.



Business Rates

Current Rateable Values:



Shop and Premises: £22,250

The Courtyard: £21,500

1st Floor Offices: £5,900

Mezzanine office: £3,950

2nd Floor Offices: £5,000

Outgoings/Rates

EPC

TBC



VAT

TBC

Viewings

Strictly by appointment. Please contact Tori Whinder at the Ashby de la Zouch office.