* Freehold Mixed Use Investment
* 818 ft sq (76 sqm) Commercial
* Highly Visible Location
* A1 Planning Use
* Vibrant Village Centre Location
* 4 Bed, 2 Bath Apartment With Courtyard & Balcony
* Current Gross Income £8,340pa
* Potential Fully Let Gross Income £16,000pa
* Expanding Village and Local Catchment Area
* EPC Ratings - C and E
We are delighted to offer this freehold commercial and residential investment comprising a town centre ground floor shop currently advertised To Let and a very substantial and attractive self-contained apartment arranged over the upper floors with private balcony and courtyard to the rear.
The shop premises have been operated as a butchers for the last 25 years, and offers great potential for other commercial uses subject to necessary consents. The property at present, produces a gross income of £8,340 per annum, once fully Let the potential gross income is estimated at £16,000 per annum, reflecting a gross yield of 8.2% approximately.
The property is situated within the main commercial and trading area of Tuxford adjacent to the Premier convenience store and offers potential to return the building to a single occupant commercial premises or residential dwelling, subject to the necessary consents.
There are a variety of independent shops and businesses within the central core and conservation area. The town centre has good car parking facilities.
Tuxford is an important employment centre with substantial business parks established in the Ollerton Road and Lodge Lane areas.
Considered a small town, Tuxford has a population of around 2,800 and is a major service centre to many of the smaller villages. There is a doctors surgery, a variety of shopping facilities, excellent primary and secondary schools.
Transport links are very convenient with access points to the A1 trunk road, north and south of Tuxford. East Coast trains are capable of journey times between Newark Northgate Station and London Kings Cross in just over 75 minutes. The Robin Hood Doncaster Airport is located approximately 20 miles from Tuxford.
The following accommodation is provided:
The Local Area - The property is located centrally in Tuxford with a good range of facilities and amenities nearby, including neighbouring local independent retail shops, Post Office, Art Gallery, pharmacy, cafes, hot food takeaways and public houses. There are an excellent range of schools including Tuxford Primary & Nursery School and Tuxford Comprehensive School, which have very good reputations and underpin the trade in the town. There are good transport links, with bus services to local villages and towns.
Tuxford lies approximately 6 miles south of Retford and 12 miles north of Newark. The A1 is conveniently placed, just under half a mile from the property and the A57 is just 3 miles to the east. GNER rail services are located both at Retford and Newark with journey times to London of 1h 30 mins and 1hr 20 minutes respectively. There are many local towns and cities within commuting distance including Worksop (13 miles), Doncaster (27 miles) and Lincoln (17 miles).
Apartment - 8A Eldon Street - This substantial self-contained apartment provides particularly flexible living accommodation arranged over ground and two upper floors. Access is via the pleasant, paved rear courtyard. The apartment is currently let on a Shorthold agreement for £695 per calendar month.
The following accommodation is provided:
Ground Floor -
Entrance Hall - A timber double glazed entrance door leads from the courtyard into the Entrance Hall.
With ceramic tiled floor, timber double glazed window to the rear elevation and built-in cupboard housing the oil-fired central heating boiler.
Inner Hall - With ceramic tiled floor.
Utility Room & Wc - 2.31m x 1.93m (7'7 x 6'4) - with ceramic tiled floor, timber double glazed window to the side elevation, radiator, extractor fan. White pedestal wash hand basin and WC. Space for freestanding washing machine and dryer.
Reception Room - 3.63m x 3.25m (11'11 x 10'8) - With ceramic tiled floor, timber double glazed window to side elevation, built-in storage cupboard and radiator.
Staircase leads to:
First Floor -
Landing - With UPVC double glazed window to the side elevation.
Kitchen Diner - 3.66m x 3.56m (12'0 x 11'8) - With ceramic tiled flooring, radiator, UPVC double glazed window to the rear elevation with views of the Church. Fitted kitchen comprises: base units, drawers and worktops over, with composite sink and drainer, extractor fan and spaces for fridge, freezer, dishwasher and oven.
Partially glazed timber stable door gives access to the private balcony with a pleasant outlook towards the Church.
Balcony - A particularly pleasant private balcony with room to sit out and enjoy views of the nearby Church.
Lounge Diner - A light and airy room with laminate flooring and two UPVC double glazed windows to the side elevation. Two radiators.
Glazed French doors lead into:
Further View -
Inner Hallway - With laminate flooring, double radiator and storage cupboard. This Hallway provides access to the First Floor Bedrooms and Bathroom with another staircase giving access to the Second Floor.
First Floor Continued -
Bedroom One - 4.57m x 3.30m max (15'0 x 10'10 max) - With laminate flooring, two UPVC double glazed windows to the front elevation (the original timber sashes are still in situ to maintain external character). Two radiators.
Bedroom Two - 3.43m x 3.18m (11'3 x 10'5) - With laminate flooring, UPVC double glazed window to the front elevation and radiator.
Family Bathroom - 2.36m x 2.16m (7'9 x 7'1) - With ceramic tiled flooring, obscure glazed timber window to the rear elevation, towel radiator, white low suite WC, pedestal wash hand basin, bidet and panelled bath with shower over and glazed screen. Partially tiled walls and extractor fan.
A staircase from the Inner Hallway leads to:
Second Floor -
Landing - With laminate flooring and Velux rooflight.
Bedroom Three - 3.96m x 2.34m max (13'0 x 7'8 max) - With laminate flooring, timber window (with secondary glazing) to the rear elevation. Radiator and eaves storage.
Bedroom Four - With laminate flooring and radiator.
Bathroom - 3.71m x 1.22m max into eaves (12'2 x 4'0 max into - With ceramic tiled flooring, white low suite WC, pedestal wash hand basin and panelled bath. Towel radiator and eaves storage.
Outside - The apartment benefits from a paved rear courtyard providing private outdoor space with fenced boundaries. Oil storage tank.
Ground Floor Commercial Unit - The vacant commercial aspect comprises a ground floor retail unit, previously an established Butchers shop. The property has a large retail area, in addition to a rear storage and preparation area. This highly visible location has excellent footfall and passing traffic. The property has two large display windows and access direct from Eldon Street, in addition to a rear access and small outdoor yard to the rear. This retail unit is perfect for a variety of retail trades or any other business, subject to change of use.
Retail Accommodation - The retail accommodation comprises 76 m.sq (818 sqft) in total.
Retail Sales Area - 7.6 x 7.6 (24'11" x 24'11") - Recently used as a butchers shop with tiled floor, fluorescent lighting, two front display windows, part tiled walls, original beams. Air conditioning unit.
Rear Store - 4.93 x 3.65 (16'2" x 11'11") - Providing a useful store area for the shop with tiled floor, pantry area, tiled walls, stainless steel splash backs and beamed ceiling.
Wc - Accessed via the rear yard and also from inside the building.
Lease Terms - The Ground Floor Shop is currently advertised To Let on a new Lease with terms to be agreed.
Planning - The established use of the property is A1 (Shop).
Should any parties require an alternative planning use, they must enquire directly to Bassetlaw District Council.
Rent - £8,100 per annum.
Business Rates - The current rateable value of the property is £6,000.
From April 2023 the rateable value will be £7,700.
For 2023/24 the multiplier is 51.2p in the £ and the small business rate multiplier is 49.9p in the £.
Applicants should make their own enquiries with regard to Small Business Rate Relief.
Vat - It is understood that VAT will not be applicable to this transaction.
Legal Costs - Each party to pay their own legal costs incurred with this transaction.
Viewing - Strictly by appointment with the letting agents.
Agents Note - Internal photographs of the apartment were taken prior to occupation by the current tenant.
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