£475,000 Commercial or Residential Investment, Market Street, Nailsworth
The property is a mid-terrace four storey building of brick construction under a pitched tiled roof. The accommodation comprises a restaurant on the ground floor with 2 flats above. The ground floor has a fully glazed wooden frame shop front and there are uPVC windows on the upper floors.
The restaurant comprises front and rear seating areas, a fully fitted commercial kitchen with range of stainless-steel appliances and extraction system, and storage. WC facilities are provided.
It has mainly painted plastered ceilings and walls with a range of spot and ceiling mounted lighting. The flooring is a combination of carpet, vinyl and laminate.
The upper floors include a 2-bedroom flat on the first floor with a 1-bedroom flat on the second and third floors. The flats are accessed at the side and rear of the building.
Each flat has a kitchen/living room, bathroom, storage cupboard and one or two bedrooms.
The kitchens have appropriately fitted units including a stainless-steel single drainer sink unit, electric hob, and oven. The bathrooms have part tiled walls, a WC, wash hand basin and bath with shower screen.
The restaurant is let to Matthew Beardshall trading as Wilder at a rent of £15,600 per annum. Wilder is an established restaurant listed in the Recommended Section of the Michelin Guide.
Both flats are let on Assured Short hold Tenancies (ASTs).
Copies of the relevant lease agreements can be provided upon request.
Nailsworth is a town located at the confluence of the Avening Valley and Woodchester Valley within the southern Cotswolds with a population of some 5,800 (Census 2011), approximately 4 miles south of Stroud (via the A46 trunk road), 13 miles west of Cirencester, 13½ south of Gloucester, 18 miles south of Cheltenham, 8 miles east of Dursley and 28 miles northeast of Bristol. Motorway access is available at Junction 13 of the M5 motorway, 8 miles to the northwest, whilst Junction 18 of the M4 motorway is approximately 15 miles to the south.
The property is situated within the centre of Nailsworth, fronting the eastern side of Market Street within a mixed retail and residential area. On street and public car parking is available within the vicinity.
Front seating area: 25.49 sq m (274 sq ft)
Rear seating area:18.75 sq m (202 sq ft)
Kitchen: 9.75 sq m (101 sq ft)
Rear store: 8.08 sq m (87 sq ft)
Total Approx. Net Internal Area: 61.69 sq m (664 sq ft)
Flat 1 - First Floor
Living room: 4.39m x 5.52m
Kitchen: 4.59m x 4.40m
Bedroom:13.64m x 3.58m
Bedroom: 23.75m x 3.60m
Bathroom: 1.80m x 2.41m
Cupboard: 1.82m x 1.14m
Flat 2 - Second and Third Floors
Living room/kitchen: 5.69m x 4.28m
Bathroom: 2.92m x 2.23m
Cupboard: 1.57m x 1.24m
Bedroom: 6.84m x 4.20m
The Rateable Value appearing on the Valuation Office Agency website is £17,250.
The flats are listed within Band A for Council Tax purposes.
The ground floor is being used as a restaurant Class E and the upper floors residential which fall within Class C3 Of the Use Classes Order 1987.
The property is offered freehold subject to the occupational tenancies in place.
The property is not elected for VAT purposes.
Each party to bear their own legal costs incurred in the transaction.
Simon McKeag: 07737 691453
Harry Pontifex: 01242 255242
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