15 & 15a High Street
Address
Prices
£155,000
Size
Download the property details
Overview
- A guide price of £155,000 which reflects a net initial yield of 10.55% allowing for standard purchaser costs
- Total rental income of £16,652 per annum
- Long term tenants in situ
- Added benefit of first floor flat
- Prominent position on High Street
- Great transport links
Location
Ripley is a market town located in Derbyshire close to the towns of Heanor, Langley Mill, Alfreton and Eastwood, located approximately 10 miles from Derby and 15 miles from Nottingham.
The property is located on the main High Street of the town, surrounded predominantly by other retailers such as Peacocks, Boots, Farmfoods, Costa Coffee and Betfred, along with a mix of residential uses.
The town is served well by public transport with several bus routes in close proximity.
Description
The property comprises a mid-terrace, three-storey Victorian building split to provide a commercial retail use on the ground floor, with residential use to the first and second floors.
There is a ground level access to the front of the property by way of a typical shop front. The residential flat comprises two bedrooms, one bathroom and separate living/dining quarters, accessed to the rear by way of a fire escape.
Floor Area
Ground Floor Shop - Available
48 sq m (517 sq ft)
1st Floor Flat - Available
64 sq m (689 sq ft)
Lease terms
15: Let to Top Nails 15 Ltd (Co No. 11853733) on a 10 year lease from 16.04.2018 at a rent of £9,452 p.a. (Rent Review 08.04.2023)
15A: Let to a Private Tenant on a 12 monthly tenancy from 05.05.23 at a rent of £7,200 p.a.
Business Rates
Charging Authority: Amber Valley Borough Councill
Description: Shop and Premises
Rateable Value: £6,400
Period: 2024/25
Tenure
Freehold subject to and with the benefit of the occupational leases.
Guide Price
A guide price of £155,000 which reflects a net initial yield of 10.55% allowing for standard purchaser costs.
VAT
VAT is applicable to the price at the prevailing rate.
Legal Costs
Each party will be responsible for their own legal costs incurred in documenting the transaction.
Anti-Money Laundering Policy
In accordance with Anti-Money Laundering Regulations, two forms of I.D. and confirmation of the source of funding will be required from the successful purchaser.
Roseway House,
Unit 8 Wheatcroft Business Park,
Landmere Lane,
Edwalton,
Nottingham,
NG12 4DG
