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2-4 Churchgate Street SOHAM ELY

Well located freehold retail/residential investment currently producing £56,690 per annum

Description

The property comprises a two storey building arranged as a ground floor retail unit with

seven self-contained flats. There are 5 x one bedroom flats and 1 x three bedroom flats

arranged over the first floor at 2-4 Churchgate Street and there is 1 x one bedroom flat on the

ground floor to the rear of 2 Churchgate Street. The flats are all accessed from the rear of the

property and there is a large rear garden.

2-4 Churchgate Street, Soham, Ely, CB7 5DRE sw.co.uk

Ground floor

First floor

Second floor

PlanningThe garden area to the rear, together with the adjacent property (5a White Hart Lane), which is in separate owner-ship, has a lapsed planning permission dated 13/06/2019 (Application Ref: 19/00036/FUL) for “Demolition of exist-ing bungalow and creation of 7 properties made up of 4 x 3 bedroom town houses, 2 x 3 bedroom flats and garage conversion to form 1 x 3 bedroom dormer bungalow." The planning permission expired on 13/06/2021.For further information contact East Cambridgeshire District Council (01353 665555) www.eastcambs.gov.uk

VATWe understand that VAT is not applicable.

EPCPlease refer to the legal pack.

TenureFreehold.

TermsTo be auctioned digitally via our joint agent, BidX1, on the 14 October 2021. The guide price is £475,000 - £500,000. Bid1X details are as follows: https://bidx1.com/en/en-gb/auction/property/68144

sw.co.uk

For further information please contact:Tim Simmons: tim.simmons@sw.co.uk. Mobile: 07511 050 889Sheryl Hoare: sheryl.hoare@sw.co.uk. Mobile: 07711 014684 Alexander Blanning: alexander.blanning@sw.co.uk Mobile: 07593 819929

Joel Ferree MNAVA joel.ferree@bidx1.com +44 (0)20 7358 5652

Misrepresentation Act 1967: Messrs Sanderson Weatherall LLP for itself and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1) These particulars do not constitute any part of an offer or contract; 2) None of the statements contained in these particulars as to the properties are to be relied on as statements of representations of fact; 3) Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars; 4) The vendor(s) or lessor(s) do not make or give and neither Messrs Sanderson Weatherall LLP nor any person in their employment has any authority to make or give any representation or warranty whatsoever in relation to this property; 5) None of the building’s services or service installations (whether these be the specific responsibility of the freeholder, lessor or lessee) have been tested and are not warranted to be in working order. Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive of VAT. Consumer Protection from Unfair Trading Regulations 2008 and Business Protection from Misleading Marketing Regulations 2008; Every reasonable effort has been made by Sanderson Weatherall to ensure accuracy and to check the facts contained in these particulars are complete. Interested parties are strongly advised to take appropriate steps to verify by independent inspection or enquiry all information for themselves and to take appropriate professional advice.Sanderson Weatherall LLP Registered in England company number OC 344 770 Registered Office 6th floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL. October 2021

2-4 Churchgate Street, Soham, Ely, CB7 5DR

Property Summary Freehold retail/residential investment

One retail unit and seven flats (one flat being reinstated and currently vacant) with development opportunity in conjunction with the adjoining property to the rear (held in separate ownership)

Currently producing £56,690 per annum (2)

LocationSoham is located just off the A142 between Ely and Newmarket.

The town has a population of 10,800 (2011 census). Road links

are good with the A142 providing access to Ely 5 miles to the

north and to junction 37 of the A14, 5 miles to the south at

Newmarket which interlinks well into the larger surrounding

towns of Cambridge and Bury St Edmunds. A new train station

is currently under construction in the town, connecting Soham

on the Ipswich to Peterborough line and it is due to open in

2022. The property is situated on the east side of Churchgate

Street at the junction with White Hart Lane, in a mixed use area

adjacent to Domino’s and opposite St Andrew’s Church.

Accommodation

Unit Accommodation Tenancy Rent Per Annum

Ground floor Retail 134.43 sq m (1,447 sq ft) Individual t/a Poppies £12,000 Basement Storage 17.74 sq m (191 sq ft) 15 years from 27/11/2009 (rent review outstanding)

r/o No.2 Reception room, kitchen, bedroom, bathroom/wc Individual AST £8,100

2a Three bedrooms, reception room, kitchen, bathroom/wc Individual AST £9,600

2b Reception room, kitchen, bedroom, bathroom/wc Vacant

4a Reception room, kitchen, bedroom, bathroom/wc Individual (1) AST £6,240

4b Open plan reception room/kitchen, bedroom, shower room/wc Individual AST £5,200

4c Reception room, kitchen, bedroom, bathroom/wc Individual (1) AST £7,150

4d Reception room, kitchen, bedroom, bathroom/wc Individual AST £8,400

TOTAL (4) £56,690

(1) The owner has confirmed that the rent receivable for Unit 4a is £8,040 pa and for Unit 4c is £8,400 pa, both being higher than the rents stated in the respective AST’s.(2) The total rent does not include the over-payments being made on Units 4a & 4c. The total combined rent including these amounts would be £59,740.NB: For the residential parts, the Landlord has been paying the utilities, but the tenants are responsible for the council tax.