Investment for sale

LOCATION

The premises are located within East Leake Village Centre opposite the busy Gotham Road junction.  Within the parade adjacent is the Round Robin, East Leake Barbers, Sue Ryder   and the Post Office.

The premises are opposite John German, Romans, East Leake Pizza and Fit2Go.

There is ample free on street parking close by and 2 hour free 88 space car park off Gotham Road.

DESCRIPTION

The Dentist premises at No 50-52 offer a link-detached building on part ground and first floors with gas fired central heating (not tested). There is a ramped external entrance to ground floor reception, offices, kitchenette, accessible WC and consulting room. There are additional consulting rooms, sterilising area, waiting area, WC and staff room to first floor accessed via stairs and bridge link.

There are a range of UPVC windows to front and rear/side timber framed windows. There are  painted rendered elevations and pitched and mono pitched concrete tile roofs and part mono pitched tile roof and a mineral felt roof to bridge link. Side fire exit door and yard with 2 external storage/compressor sheds and bin area.

The ground floor No 52 offers a food premises with external ramped area, aluminium framed entrance door and aluminium framed bi-fold doors to front. Re-fitted front waiting and serving areas plus front kitchen and dispatch. Additional rear kitchen, storage and preparation areas and WC. Rear fire exit door and bin area to side alley. Part blockwork rear extension and rendered and painted front and part side elevations. Under main pitched concrete tile and part mono-pitched roof.

There is a fire exit route forwards between the buildings out onto Main Street

ACCOMMODATION

GROUND & FIRST NO 50 (DENTISTS)

Ground floor –  53.00 sq m ( 568 sq ft)  

First Floor  -      39.00 sq m ( 336 sq ft)

Sub Net Internal – 84.00 sq m (904 sq ft)

Outside – Rear Yard

GROUND NO 52 (COTTAGE)

Ground floor – 76.00 sq m (818 sq ft)  

Sub Net Internal –  76.00 sq m (818 sq ft)

FIRST NO 52 (DENTISTS) 

First Floor  - 44.00 sq m (476  sq ft)

Sub Net Internal –  44.00 sq m (476 sq ft)

Total Net Internal – 204.00 sq m (2,198 sq ft)

PRICE – OFFERS IN EXCESS OF £295,000

TENURE & LEASES

Freehold subject to 3 leases:-

GROUND & FIRST NO 50 (DENTISTS)

Residue of lease 15 years 10^th September 2012 with expiry September 2027 (10 year break not actioned). Reviewed September 2022 to £11,800 pax. Whitecross Dental Care Limited T/A My Dentist Co. No. 00244415 .

GROUND NO 52 (COTTAGE)

Holding over on lease 5 years from 1^st July 2019 that expired June 2024. Renewed from original 2007 lease some 19 years ago. Rental £9,000 pax. Let to Mr M Dad T/a The Cottage

FIRST NO 52 (DENTISTS)

Residue of lease 15 years 10^th September 2012 with expiry September 2027. Reviewed September 2022 to £4,000 pax. Whitecross Dental Care Limited T/A My Dentist Co. No. 00244415

TOTAL RENTALS - £24,800 pax

Potential for rental growth on renewal or re-letting.     

RATING ASSESSMENTS

The VOA have assessed the premises:

Rateable Value Dentists  GF/FF 50 & FF 52 - £12,750 (2026)

Rateable Value Cottage GF 52 - £13,750 (2026)

Interested parties should make their own enquiries. Qualifying occupiers may obtain Small Business Rate Relief under the £15,000 threshold. Neither the landlords nor New West Ltd offer any warranty in respect of the Business Rates and interested parties must consult with the Local Authority/VOA.

BUILDINGS INSURANCE

The landlords insure the buildings and reclaim from the tenants the premium annually in advance by way of additional rental.

PLANNING

The premises have been used for a dentist for many years, and as a result of the

September 2020 Use Classes update Clinics are now part of the E Classification.

The ground floor has operated for a food use for many years and the original lease was 2007.

There may be potential for alternative uses should the premises become vacant either within E Class which includes retail, food and drink, financial and professional services, clinics and leisure uses or subject to planning for other uses.

The premises are not Listed but No 50 is a Building of Local importance and both are situated within the East Leake Conservation Area.  

Interested parties should contact Rushcliffe Borough Council Planning Department (telephone:0115 9819911).

Neither the landlords nor New West Ltd offer any warranty in respect of the Planning (existing or proposed) or Building Regulations and interested parties must consult with the Local Planning Authority.

COMMERCIAL ENERGY PERFORMANCE CERTIFICATES

The premises are assessed as D84 for the Dentists 50-52 Main Street expiring March 2031

The Cottage No. 52 is assessed as D82 expiring April 2031.

The EPC and Recommendations Report are available upon request.

LEGAL FEES

Each party to bear their own legal costs incurred in the transaction. However, there will be abortive legal fees undertaking required to pay the vendors fees should the buyers withdraw once solicitors instructed.

VAT

We understand that VAT is not applicable.  However, the position regarding VAT is always reserved and purchasers must take their own advice.

MONEY LAUNDERING POLICY

In accordance with Money Laundering Regulations, two forms of ID and confirmation of the source of funding will be required from the successful applicant.