24 High Street Saxmundham IP17 1AD

FOR FURTHER INFORMATION: FOR SALE

Telephone: 01728 621621 IMPORTANT TOWN CENTRE INVESTMENT PROPERTY

Email: [email protected] COMPRISING GROUND FLOOR COMMERICAL PREMISES AND RESIDENTIAL UPPER PARTS

WITH DEVELOPMENT POTENTIAL

TOTAL SITE AREA APPROXIMATLEY 0.5 ACRE

STAIRCASE RENT RISING TO £41,200 P.A.X. IN YEAR 6 GUIDE PRICE £425,000 Tenure: Freehold Coach House—approximately 100sq.m.

Location: Saxmundham is a market town on the central to the Heritage Coast Garden Area—0.128 Hectare/0.316 Acre on the A12, 21 miles north east of and 24 miles south of . Total Site Area: 0.196 Hectares/0.484 acres. The town has a population of approximately 2,550, which is increasing with a number of large scale residential developments. The town benefits from a Development Potential: . There is a large garden to the rear which runs full range of facilities including Waitrose and Tesco supermarkets, banks, down to the river with former coach house which has development potential health centre, parish church, primary and middle schools and secondary for residential conversion. education five miles distant at . There is a weekly market and good rail and bus connections to Ipswich and London Liverpool Street Station and Planning: The premises have been used as a bank for approximately 40 years, the surrounding area. therefore, has planning permission for A2 Use. All other uses within A Use Class, i.e. shop, financial and professional Description: The property comprises ground floor premises formerly Barclays services, restaurant and drinking establishment and hot food takeaway Bank now let to Access Community Trust, supporting young people in the would be acceptable. The current use is retail. community. Although several other buildings in the vicinity are listed the property itself is The property comprises a well located late Georgian/early Victorian building not listed. of solid brick wall construction under a pitched slate roof and modern shop front. Refurbishment: Tenant is spending in excess of £33,000 on improvements which will be interpreted as Landlords improvements for the purposes of rent The property is internally arranged as a large open plan area to the front review. with ancillary offices and staff rest room to the rear. There is a cellar to the rear is a coach house and garden. Guide Price: £425,000.

Legal Fees: Each party will be responsible for their own legal fees. The residential property has been sold off on a long lease

Accommodation: Rates: The rateable value is £16,250 (Barclays Bank). Gross frontage: 13.51m Gross Depth: 8.1m Energy Performance Certificate: The property is assessed at Band C, copy Office 4.72m x 5.37m 25.36 sq.m. available upon request. Cupboard 1.53 sq.m. Strong Room 1 10.62 sq.m. Viewings: Strictly by appointment with Akermans Chartered Surveyors. Strong Room 2 16.5 sq.m. Telephone number 01728 621 621, Fax number 01728 621 321 or email: Staff Room 6.0m x 3.5m 21 sq.m. [email protected]. Male & Female WC 2.7m x 4.7m 13.5 sq.m. Cellar 16.4sq.m. Reference: P11353 Total Ground Floor Accommodation 175.8sq.m.

No. Present Lessee Accommodation Lease Terms Current Rent £ p.a. Comments

24 Ground Flooor Access Community Trust Zone A 30.95sq.m. 20 Years from December 2018. First 18 months - £12,375 p.a The lease is subject to 5 year reviews and tenant break ITZA 130.97sq.m. 2. Second 18 months - £24,750 p. a options at 5 and 10 years. The 3. Years 3, 4, 5 - £35,000 p.a Total Area 175.78sq.m. first break is subject to a 4. Year 6- £41,000 p.a penalty rent of 1 year and 6 6. Year 10 - Rent review months notice.

Tenant break at 5 and 10 years

24a First Floor Ground Rent£200 p.a Service capped at £1,000 p. a. Residential Flat but topped up if necessary for any additional works.