This investment is located on Clayton Street which is in the heart of Grainger Town, forming part of the City centre. Clayton Street runs south from Newgate Street and Eldon Square shopping centre towards Westgate Road and the railway station.
The immediate area has seen significant development over the last few years and Hotel Indigo lies directly behind the subject property with additional hotel and student space at the northern end of the street. Nearby occupiers include HERON Foods, B&M and numerous independents. Clayton Street is a busy bus route and there is metered on street parking nearby.
This opportunity comprises a self-contained 5 storey property which forms part of a larger imposing terrace.
The property has been measured in accordance with the Code of Measuring Practice and reported on a Gross Internal Area basis as follows:
Basement circa 250 sq.ft. (23 sq.m).
Ground Floor circa 250 sq.ft. (23 sq.m).
First Floor circa 195 sq.ft. (18 sq.m).
Second Floor circa 130 sq.ft. (12 sq.m).
Third Floor circa 170 sq.ft. (16 sq.m).
The property is occupied by way of a 10 year lease dated from July 2015 at a current rent of £10,000 per annum. There is an outstanding rent review from 2020 but no break clauses.
Interested parties should seek legal confirmation of this.
Rating – E
Water, electric and sewerage are installed and the property is in good order throughout.
The premises are assessed as follows:
RATEABLE VALUE £9,600
Rates free incentives are available subject to status.
Strictly by appointment with this office.
We are verbally informed that the premises are Freehold. Interested parties should seek legal confirmation of this.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser or Tenant will be required to provide two forms of identification and proof of the source of income.