Wood Street, Earl Shilton
- Long term income with 19 years unexpired on current lease
- Passing rent of £13,520 per annum exclusive
- 3 yearly rent review pattern
- Well established takeaway business in Earl Shilton
- NIA - 681 sq ft (63 sq m)
Investment, Retail
For Sale: £200,000
681 Sq Ft (63.26 Sq M)
Description
INVESTMENT PROPERTY FOR SALE - BUSINESS NOT AFFECTED. The subject property comprises a hot food takeaway premises situated in the heart of Earl Shilton town centre.
Internally, the accommodation comprises the following: Ground Floor: Servery, Kitchen, Preparation Area, Store and WC. First Floor: two Stores and Shower Room.
Externally, there is a rear yard area.
Location
The property is located in the centre of Earl Shilton close to the intersection of Wood Street, Station Road and The Hollow. There is on street car parking to the front of property and free car parking available elsewhere in Earl Shilton.
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 | |
|---|---|---|
| Ground | 152 Sq Ft (14.12 Sq M) | Servery |
| Ground | 145 Sq Ft (13.47 Sq M) | Kitchen |
| Ground | 107 Sq Ft (9.94 Sq M) | Prep Area |
| Ground | 47 Sq Ft (4.37 Sq M) | Store |
| First | 229 Sq Ft (21.27 Sq M) | Stores |
Services
We understand mains gas, electricity, water and drainage are connected to the subject property. Heating is by way of gas fired central heating serving panel radiators.
Tenure
The Freehold interest in the subject property is available, subject to the lease in effect, at an asking price of £200,000 (6.6% Net Initial Yield).
We are advised that the lease is held for a period of 21 years from 26 May 2023 (19 years unexpired approximately) at a passing rent of £13,520 per annum exclusive of VAT. The lease is full repairing and insuring with a three yearly rent review pattern on an open market basis.
Legal Costs
Each party to bear their own legal costs.
Energy Performance Certificate
EPC Rating - C(65)