Queen Ediths Way, Cambridge, Cambridgeshire, CB1 7PH

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Freehold residential investment in prime location next to Addenbrooke’s Hospital and the Cambridge Biomedical Campus. A single-storey detached building split into four high quality furnished flats let on ASTs. The current rent is £70,740 pa with an estimated market rent of £72,600 pa and excellent prospects for future rental growth given Cambridge’s strong economic growth.. A similar investment nearby on Hills Road is also available from the vendor.

Hills Road, Cambridge, Cambridgeshire, CB2 0QG

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Freehold residential investment in prime location next to Addenbrooke’s Hospital and the Cambridge Biomedical Campus. A single-storey detached building split into three high quality furnished flats let on ASTs. Current rent of £69,900 pa with an estimated market rent of £72,600 pa and excellent prospects for future rental growth given Cambridge’s strong economic growth. The property is accessed via a private driveway from Hills and is set back in an attractive setting with large garden. A similar investment nearby on Queen Edith’s Way is also available from the vendor.

Louth Hotel, High Street, Mablethorpe, Lincolnshire, LN12 1AF

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The Louth Hotel is a substantial building sat in a prominent location on the corner of the High Street and Victoria Street and which is laid out to provide a pub, the Louth Hotel and five other commercial units utilised for a variety of different retail and restaurant uses, together with three self contained residential units.

To the rear of the building is a courtyard used for storage and car parking.

Former Regent Bingo, Westlode Street, Spalding, PE11 2AE

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Former Cinema premises latterly used as a Bingo Hall. The property provides 15,007 sq ft GIA on 0.695 Acres; subject to fire damage in May 2021 the premises have not been in use since that date. Although structurally stable (roof is leaking in part) and potentially capable of being brought back into use (subject to removal of ACM’s), it is envisaged that the property represents an excellent mixed use redevelopment opportunity. Pre-App enquiries made of South Holland District Council indicate support for a redevelopment onf the site, which sits on the eastern edge of Spalding Town Centre. For Sale Freehold with Vacant Possession.

Former Glass House Public House, 45 Mill Lane, Old Swan, Liverpool, Merseyside, L13 5TF

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The subject property comprising the former Glasshouse Public House which we understand was constructed circa 1926 of traditional brick construction with double gabled bay on the front elevation and finished with stone at ground floor level and mock timber framing at upper floor level, under a multi pitched slate roof.

The basement offers two rooms and potential for further refurbishment.

Internally, the property comprises the existing public house fit out which has been vacant for approximately a 2 year period offering bar and lounge, ancillary areas and male and female toilets.

The upper floors have been stripped out ready for refurbishment having previously been used for office and living accommodation.

Planning permission was granted (App: 21F/2527) on 24 October 2022 to alter and convert the property to form 2 ground floor units under Class E (A) / E (B) drinking establishment and for 3 residential units on the first floor.

Subsequently a further Planning Permission (App: 23F/0908) was approved on 27 March 2024 to erect 4 dormer windows to allow conversion of the second floor roof space into 2 no. 1 bed apartments. This is subject to a signed Section 106 Agreement whereby an amount of £1,600 shall be paid towards the planting of street trees – this sum has been paid by the current owner.

Wherrys Lane, Bourne, Lincolnshire, PE10 9HQ

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The subject property comprises a large self-contained mixed use investment property, which is laid out to provide 7 ground floor retail units, 5 of which are currently tenanted and 2 vacant and 17 flats over the two upper floors, which have been sold off on long leases, and have just under 115 years unexpired.

The modern property is constructed in cavity brickwork under pitched tiled roofs, with the 7 No. ground floor retail units having glazed shopfronts onto Wherry’s Lane.

EPCs – The commercial units have EPC ratings ranging from B to E and all of the flats have a B rating.

LOCATION
?The property enjoys a central location within the well regarded south Lincolnshire market town of Bourne, which lies about 11 miles north east of Stamford, 12 miles west of Spalding, 17 miles north of Peterborough and 25 miles south of Lincoln. The town has an estimated population of circa 17,000 and a wide rural based catchment.

The town provides a good range of local, educational, leisure and shopping facilities, with Tesco, Sainsbury’s, Aldi and Lidl, as well as an M&S Foodhall all represented within the town. Other nearby retailers to the subject property in the town centre include Boots, Specsavers, Heron, Card Factory and Costa.

The subject property sits immediately to the east of the A15 (North Street) which runs through the centre of the town, immediately adjacent to the town centre retailers mentioned above.

SERVICES
?We understand that all mains gas, water and electricity are available and connected to the properties. Each property is self-contained from a servicing point of view.
These services have not been tested and interested parties are therefore advised to make their own investigations to the relevant utility service providers.

TOWN & COUNTRY PLANNING
?We understand that the various units have consent for uses falling within Class E (Commercial, Business & Services Use) and Class C3 (Residential Dwellings) of the Town and Country Planning (Use Classes) Order 1987 (as amended 2020).
Class E now encompasses a number of uses formerly known as A1 (Retail), A2 (Professional & Financial Services), A3 (Restaurant & Bars), B1 (Business) and D2 (Clinics, Health Centre, Crèche & Day Nurseries).
RATES
?Each commercial unit has a separate Rateable Value and the flats their own Council Tax banding. Further details of Rating and Council Tax bands for each property are available on request.

ASSET MANAGEMENT
?Let the vacant units (there are currently two) to increase the rental income /yield (return).

Look at the conversion of the vacant ground floor units into residential units. The most recent sale of a two bed flat in the block was at a price of £160,000 which represents a significant uplift in value from the existing commercial unit value.

TENURE
?The property is available For Sale freehold, subject to the 5 commercial leases in place on the tenanted ground floor shop units, and the 125 year long leasehold interest sold off in respect of the 17 flats on the two upper floors. Further details in respect of the tenancy position throughout the property are available on request.

In our opinion when fully let the 7 retail units and the ground rents payable by the owners of the flats of £125 per annum (subject to review – further details on request), will generate a total income of £53,310 per annum. The current rent with the 2 vacant units is £35,310 per annum
The leases make provision for the payment of a service charge by the tenants of each unit, both commercial and residential, to cover the cost of maintenance of all common parts internally and externally throughout the development.

PRICE
?Offers are invited in excess of £400,000 (Four hundred thousand pounds) for the freehold interest in the development, subject to the various leases in place throughout the property.

A purchase at this figure based on the total projected income of £53,310 referred to above,(when the building is fully let) would provide a purchaser with a Net Initial Yield after standard purchaser’s costs of circa 12.80%.
VAT
?VAT may be charged in addition to the purchase price at the prevailing rate. However it may be possible to treat the sale as a (TOGC) for this purpose.

LEGAL COSTS
?Each party is to be responsible for their own legal costs incurred in documenting the transaction.

6 Paddington Street, London, Greater London, W1U 5QG

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Situated in a prominent location on the north side of Paddington Street, close to the junction with Marylebone High Street. The “Marylebone village” is an established vibrant area offering an abundance of shopping, restaurant and café/bar amenities.

Market Hill, Huntingdon, Cambridgeshire, PE29 3NR

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A mid-terrace building of rendered brick wall construction under a tiled roof, with accommodation over four floors.

The frontage onto Market Hill is double fronted, with each side of the building benefiting from its own pedestrian access and a shop front display window.

The building is currently configured with a large reception area with each floor being divided into several offices. There is potential for a range of uses (STP). There are two kitchens at either end of the building as well as several male and female WC facilities. The property also benefits from period features including a main stairway.