Commercial Property for sale

Freehold mixed Investment For Sale
£450,000 Guide Price - Plus VAT
Oakham Town Centre Property
Tenure - Freehold
Price - £450,000
VAT - Applicable on the purchase price
Income - £34,200
Legal Fees - Each party to bear their own costs
EPC - B (49)
19 High Street is a 3 storey brick built property under a pitched roof - Ground floor accommodation over 2 levels and let to a convenience store tenant on a 7 year term with No Break clause from December 2025.
The upper floors are independently accessed from the side alley way, where the communal bin store is located. The flats share an entrance and communal stairs, with own front doors, each flat has open plan lounge and kitchen area with 1 bedroom and bathroom.
Location - 19 High Street occupies a prime location on Oakham High Street. Surrounded by other retail outlets including Boots the Chemist, Boots Opticians, Specsavers and numerous private retailers including travel agents and estate agents. Oakham is a popular Market town and the County capital of Rutland, the smallest County in the UK. Well positioned in the Midlands close to the A1 at
Greetham/Stretton with good access to other popular market towns, Stamford, Melton, Grantham and Uppingham all within 15 miles, and cities to include Peterborough and Leicester within 20 miles away. Motorway access is circa 20 miles West at Junction 21a, via the A46 from Melton Mowbray.
Terms - Offered for sale freehold as an investment with a guide price of £450,000 PLUS VAT.
Current rental income is £34,200 per annum split £15,000 for the ground floor and £9600 per flat on the residential element.
The commercial lease is for 7 years with no break clause from December 2025 at £15,000 with annual RPI increases at £400 per annum over the term.