Location
Located on Ridley Place, this investment forms part of a pleasant terraced parade which runs from Dobson Street down towards Northumberland Street. There has been some recent Council investment in this part of town and the pavements have been widened so that external seating can be incorporated. This street is home to a broad range of artisan food operators and within walking distance of both Universities.
Description
This investment opportunity comprises a five-storey property with a ground floor occupied by a sandwich bar and the separate upper floors which are currently vacant and in need of refurbishment. The upper floors previously operated as a restaurant and would be suitable for other food uses or conversion to residential use.
Accommodation
Gross Internal Areas as follows:
19 Ridley Place
Ground Floor 580 sq.ft. (54 sq.m.)
Basement 170 sq.ft. (16 sq.m.)
19a Ridley Place (with separate street access)
First Floor 525 sq.ft. (49 sq.m.)
Second Floor 540 sq.ft. (50 sq.m.)
Attic 215 sq.ft. (20 sq.m.)
External
Parking To the rear for 2 cars.
Occupational Lease
The ground floor is occupied by Frankie & Tony’s Sandwich Bar Ltd on a 10 year EFRI lease dated from August 2023. The rent is £19,000 per annum with a rent review and break clause at the 5th anniversary. A copy of the lease is available to view.
EPC
19 Ridley Place - Rating C
19a Ridley Place - Rating D
Services
Water, electricity, gas and sewerage are installed.
Rates:
The premises are assessed as follows:
19 Ridley Place Rateable Value £10,000
19a Ridley Place Rateable Value £10,500
Viewing
Strictly by appointment with this office.
Tenure
We are 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 will be required to provide two forms of identification and proof of the source of income.