Property Description

***High yielding commercial investment property producing an impressive 12.5% return based on the guide price*** This is a fantastic opportunity to acquire, a rarely available investment property generating a valuable income stream. The ground and first floor accommodation have recently been refurbished with the Coffee Spaniel Company signing a new 5 year full repairing and insuring lease at a passing rent of £15,000 per annum in 2022. The retail space to the ground floor currently trading as Mad Dog Coffee Bar has been well fitted out with wooden panel flooring, painted plaster walls and ceilings with new shop signage. To the rear, the property also includes additional store room and WC facilities. Additionally there is a shared rear yard with access to the first floor apartment which is held under the same 5 year lease and includes a kitchen / lounge area, bathroom and two bedrooms fitted to a modern standard. Ilkeston is a Derbyshire market town situated approximately 10 miles to the north east of Derby city centre and just 7.5 miles to the west of Nottingham. The town boasts good transport links with the M1 motorway close by and the recent opening of Ilkeston train station improving the towns connectivity. The subject property is located on Bath Street which serves as the towns primary high street. Other well known retailers and businesses on the high street include Lloyds Bank, William Hill and Timpsons.

Planning

We understand the property has the benefits of planning consent for use class E (formerly A3 restaurant and café) and use class C3 (dwelling houses)

Services

We understand that all main services are available to the property.

Business Rates

The property is listed on the Valuation Office website as having the following rateable value. Café and premises £5,900 In respect of the flat we understand the council tax banding is listed as A.

Draft Sales Details

These sales details are awaiting vendor approval.

Tenure

Freehold

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