About this property

Detailed Description

The property comprises a long leasehold retail unit with residential flat above and is located within a neighbourhood shopping complex; Longsands Parade which fronts Longsands Road which connects to Cambridge Street providing direct access to St Neots High Street. Adjacent occupiers include NISA Local and food operators. The end of terrace shop is currently trading as a hairdresser and provides reception, salon area, rear storage and a staff room.

Facilities include electric heating, fluorescent lighting, kitchenette and WC's.

Customer parking is available to the front of the property. Access to the rear is via an adjacent driveway which provides access to staff parking.

Location

St Neots is the largest town in Cambridgeshire located on the banks of the River Great Ouse with over 32,500 of the population living within the urban area. When feeder communities which rely on St Neots as a hub for services are considered, the catchment population is estimated to be more than 80,000. Furthermore, Cambridgeshire has the highest County growth rate in the UK and St Neots has the fastest rate of population growth within the County.
Benefiting from rail links to London Kings Cross (typical journey time of 50 minutes), the town has seen a considerable expansion of its commerce and industry in recent years. It also enjoys excellent road communications with London and the east coast ports, being located at the intersection of the A1 trunk road and the A428/A421 Cambridge-Bedford M1-Milton Keynes route. The opening of the A14 (A1/M1 link) in 1997 has also significantly improved accessibility to the Midlands and the North West.
The town has a good range of shopping facilities with many national multiple retailers represented, including Boots, Waitrose, Fat Face and a Marks & Spencer Simply Food. There are a range of smaller retailers and St Neots also benefits from a six screen cinema (Cineworld) and restaurants including Pizza Express.

Accommodation

Ground Floor Retail 52.00 sq m (558 sq ft)
Central Room 14.00 sq m (152 sq ft)
Rear Lobby 4.00 sq m (42 sq ft)
Staff Room 14.00 sq m (151 sq ft)
Total 84.00 sq m (903 sq ft)

Services

We have not carried out tests on any of the services or appliances and interested parties should arrange their own test to ensure these are in working order.

Viewing

Strictly by appointment with the Selling Agent.

VAT

It is understood that VAT is not applicable.

Legal Costs

Each party will be responsible for their own legal costs incurred in documenting the sale.

Terms

The property is held on a long leasehold for a term of 2000 years from 25th December 1986. The flat is sold on a long leasehold basis for a term of 125 years paying an annual ground rent of £200 per annum.

LEASE & RENTAL TERMS
The property is let to a hairdresser on a full repairing and insuring basis on a 15 year lease which commenced on 14th September 2012. The passing rent is £20,000 per annum exclusive.

A new 15 year lease has been proposed at a commencing rent of £20,000 per annum; increasing to £21,000 per annum for years 4 and 5.