Wood Street, Earl Shilton
- Located on Wood Street in the heart of Earl Shilton town centre
- Comprising two ground floor retail units with two first floor flats above
- Vacant outbuilding fronting to Kings Row with development potential (STP)
- Passing rent of £25,340 per annum
Investment, Retail
For Sale: £395,000
2,016 Sq Ft (187.29 Sq M)
Description
The subject property comprises a mixed use retail/residential investment opportunity, with two ground floor retail units and a one and two bedroom flat to the first floor. To the rear of the site there is a vacant outbuilding which has previously had planning permission for a residential conversion and provides a development opportunity (STP).
26 is occupied by Shilton Fish Bar and comprises a serving area, kitchen, preparation area, WC facilities and stores.
28 is occupied by CBT Motorcycles as a motorcycle workshop and comprises a retail area, workshop area, external workshop with WC and basement.
26a comprises a two bedroom first floor flat.
28a comprises a one bedroom first floor flat.
The rear outbuilding is not currently accessible and is unmeasured.
Location
The subject property is located fronting onto Wood Street in the town centre of the popular town of Earl Shilton. There is short term car parking to the front elevation. The rear of the property fronts onto the pedestrian walkway Kings Row. Wood Street comprises predominantly commercial premises whilst Kings Row is primarily residential in use.
Earl Shilton is a busy town (population 10,000), adjoining the village of Barwell, lying approximately 10 miles from Leicester and 3 miles from Hinckley. There are excellent road communications with junctions of the M1 and M69 being within easy commuting distance. Earl Shilton also benefits from regular bus services to Hinckley, Nuneaton and Barwell.
Accommodation
| Size | Description | |
|---|---|---|
| 26 Wood Street | 1,205 Sq Ft (111.94 Sq M) | Total NIA |
| 28 Wood Street | 811 Sq Ft (75.34 Sq M) | Total NIA |
| 26a Wood Street | Two Bedroom First Floor Flat | |
| 28a Wood Street | One Bedroom First Floor Flat |
Services
We understand all mains services are available to the subject property.
Planning
We are advised that the subject property previously benefitted from planning permission (Reference 16/00294/FUL) for demolition of existing buildings and erection of two dwellings (resubmission) at 9 Kings Row, Earl Shilton, Leicestershire. This permission has now expired.
Tenure
The subject property is available at an asking price of £395,000, subject to the occupational agreements currently in place, which we are advised are as follows:
26 Wood St - Shilton Fish Bar - Effective FRI lease until 30/11/28 at a passing rent of £8,000 pax
28 Wood St - CBT Motorcycles - Holding over following the expiry (on 26/10/23) of an effective FRI lease at a passing rent of £6,000 pax
26a Wood St - Two Bed Flat - Let on an AST at £495 pcm
28a Wood St - One Bed Flat - Let on an AST at £450 pcm
The total passing rent is therefore in the order of £25,340 per annum.
Legal Costs
Each party to bear their own legal costs.
Energy Performance Certificate
26 Wood St - C(58)
28 Wood St - D(80)
26a Wood St - E(52)
28a Wood St - E(39)