£295,000

Retail premises for sale

  1.  Wisbech - 108 Norfolk Street, Cambridgeshire Pe13 2Ld
  2.  Wisbech - 108 Norfolk Street, Cambridgeshire Pe13 2Ld
  3.  Wisbech - 108 Norfolk Street, Cambridgeshire Pe13 2Ld

Fixed price

£295,000

(£91.81/sq. ft)

Retail premises for sale

Norfolk Street, Wisbech PE13

3,213 sq. ft

Local area information

Property location

Nearby amenities

  • The Nene Infant & Nursery School 0.1 miles
  • Ramnoth Junior School 0.3 miles
  • March 7.7 miles
  • Watlington 9.3 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold Shops and Residential Investment
  • Comprises Two Retail Units and Three Self-Contained Flats
  • VAT is not applicable to this property
  • Located within the heart of Wisbech, the third largest town in Cambridge
Investment Consideration:
Gross Initial Yield: 9.56%
Rental Income: £28,200 p.a.
VAT is not applicable to this property
Comprises two retail shops at ground floor and three self-contained flats above
Located within the heart of Wisbech, which is the third largest town in Cambridgeshire

Property Description:
Comprises two ground floor shops and three self-contained flats, providing the following accommodation and dimensions:
Shop No. 108: 35 sq m (377 sq ft)
Open plan retail, Storage, WC
Takeaway No. 108a: 157 sq m (1,690 sq ft)
Open plan retail, Storage, WC
Flat 1 (108b): 43 sq m (463 sq ft)
Flat 2 (108b): 34 sq m (366 sq ft)
Flat 3 (108b): 24 sq m (258 sq ft)

Total Retail Area: 192 sq m (2,067 sq ft)
Total Residential Area: 101 sq m (1,087 sq ft)

Tenancy:
Shop No. 108 is at present let to an Individual for a term of 5 years from 28th May 2018 at a current rent of £5,400 p.a. And the lease contains full repairing and insuring covenants. The tenant did not exercise break clause in May 2020. Deposit held of £400.
Outstanding rent review for May 2021.
Shop No. 108a is at present let to Missy De Ltd for a term of years from 1st September 2019 to 27th May 2023 at a current rent of £6,000 p.a. And the lease contains full repairing and insuring covenants. Break clause in 2021 not exercised. Deposit held of £500. Outstanding rent review for September 2022.
Flat 1 (No. 108b) is at present let on an AST to an Individual for a term of 12 months from 10th April 2022 at a current rent of £6,000 p.a. Deposit held of £500.
Flat 2 (No. 108b) is at present let on an AST to an Individual for a term of 12 months from 27th July 2022 at a current rent of £6,000 p.a. Deposit held of £500.
Flat 3 (No. 108b) is at present let on an AST to an Individual for a term of 12 months from 3rd March 2022 at a current rent of £4,800 p.a. Deposit held of £400.

Location:
Wisbech is the third largest town in Cambridgeshire, after Cambridge and St Neots. The property is situated on the west side of Norfolk Street, to the north of its junction with St Peter’s Road. Located within the heart of Wisbech, it benefits from easy access to a range of facilities.

More information

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Property descriptions and related information displayed on this page are marketing materials provided by - Blue Alpine Partners. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. Cambridgeshire
  4. Wisbech
  5. Norfolk Street

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