Retail for sale - 33a and 33b Westgate, Peterborough, PE1 1PZ

<strong>Description</strong><br>The property comprises a former bank premises which have been converted into two ground floor shops. The building is of traditional construction with a stone façade. The building has total site coverage. The property has been extensively refurbished and is in excellent condition. <br /> <br /> The ground floor consists of two shops, one retailing hairdressing products and the second being a chicken takeaway.<br><br><strong>Specifications</strong><br>The current income derived from the two shops is a gross figure of £80,000 per annum. <br /> The current rent payable in respect of 33a Westgate is £42,500 per annum and in respect of 33b Westgate, will be £35,000 per annum as from July 2026. The vendor will top up the difference between the current rents and the ERV of £80,000 per annum.<br><br><strong>Viewings</strong><br>Strictly by appointment with the joint agents Savills (07807 999211) and FHP (Noel Roper - 07711 211 511).<br><br><strong>Terms</strong><br>Offers are invited in excess of £865,000 to show a gross initial yield of 9.24%. The property is elected for VAT and therefore will be sold as a TOGC.<br><br><strong>EPC</strong><br>33A & 33B EPC ratings of B. The apartments range from C to D - all expiring in March 2033. Copies can be supplied upon request.<br><br><strong>Legal Costs</strong><br>Each side to be responsible for their own legal costs.<br><br><strong>Anti-Money Laundering</strong><br>In order to comply with Anti-Money Laundering Legislation, any purchaser will be required to provide identification documents.<br><br><strong>Leases</strong><br>The commercial element is let on a full repairing and insuring lease of the demised parts. There is no service charge payable. As and when any repairs are required, they are completed by the landlords and the tenants recharged.<br><br><strong>Plans</strong><br>Detailed plans showing the ground floor shops are available upon request.<br><br><strong>Planning</strong><br>The property is situated within the Westgate City Centre Conservation Area. We understand that the property is not Listed.<br><br><strong>Business Rates</strong><br>To be assessed.<br><br>