Market Place, Coleford £650,000

• COMMERCIAL FREEHOLD INVESTMENT
• GROUND & FIRST FLOOR RETAIL
• 1 X RESIDENTIAL APARTMENT
• COMPLETION REQUIRED FOR 2ND FLOOR APARTMENTS
• CENTRAL TOWN LOCATION
• CURRENT BUSINESS NOT AFFECTED

BUSINESS NOT AFFECTED: We have for sale an investment opportunity for income and further potential to complete the conversion works on the upper-floor accommodation into apartments.

Please note the current occupiers are not selling and are protected under their lease terms for continuation of business.

The premises are fronting both the popular Market Place address in Coleford, opposite the Clock Tower. There are further access points to the side and rear.

The occupying business is Fairways Furnishings, who have successfully traded in Coleford since the 1980s and have proven to be model tenants of this substantial building.

The rent quoted and received does not include any further additional rent received from the uncompleted apartments. The residential flat is currently occupied under an Assured Shorthold Tenancy Agreement at £7200 per annum.

Please refer to the floorplan for room dimensions and layout.

Further lease details are available upon viewing, and please be mindful that we are selling the freehold and not the trading business.

Income:
The ground and part first floor retail units produce an income of £44,900.00 per annum.

The residential apartment attracts a current rent of £600.00 pcm.

The potential for further income may be derived from the conversion of the remining apartments, which would equate to £6000.00 per annum per unit. In total, there are a further 4 units that could be completed with a potential income of a further £24,000.00 per annum.

Independent Financial Advice:
We are able to arrange a no obligation introduction to a mortgage advisor who specialises in various areas of financial planning, including mortgages.

Local Authority & Charges:
Forest of Dean District Council.

Money Laundering Regulations:
To comply with money laundering regulations, prospective purchasers will be asked to produce photographic identification documentation at the time of making an offer. We ask for your cooperation in order that there is no delay in agreeing the sale.

Energy Performance Certificate:
An EPC will be made available during the marketing period.

VAT:
All prices quoted are of exclusive of VAT whether charged or not.

Viewings:
Please contact Dean Estate Agents to arrange an appropriate time. We are scheduled for viewings during opening hours of the business 9:00am -5:00pm. The last viewing appointment being 4:00pm and being vacated by 4:45pm.

Consumer Notes: Dean Estate Agents Ltd have prepared the information within this website/brochure with care and co-operation from the seller. It is intended to be indicative rather than definitive, without a guarantee of accuracy. Before you act upon any information provided, we request that you satisfy yourself about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose.
These details do not constitute any part of any Offer, Contract or Tenancy Agreement.
Photographs used for advertising purposes may not necessarily be the most recent photographs, although every effort is made to update photographs at the earliest opportunity. Any reliance you place on such information is therefore strictly at your own risk. All photographic images are under the ownership of Dean Estate Agents Ltd and therefore Dean Estate Agents retain the copyright. You must obtain permission from the owner of the images to reproduce them.
Tenanted Property – we are not always able to show the most recent condition of a property due to tenants’ privacy and we may choose to show the photographs of the property when it was last vacant to at least allow clients some idea of the internal condition. Therefore, we would of course, urge you to view before making any decisions to purchase or rent the property and before any costs.
Energy Performance Certificates are supplied to us via a third party and we do not accept responsibility for the content within such reports.
PRC Certificates – Some ex-local authority properties have been repaired in recent years using the PRC Scheme wherein a certificate has been produced by a qualified property engineer. This certificate does not imply the suitability for a mortgage approval and you must satisfy yourself of the work carried out that may meet your lenders criteria.
As with leasehold property or new build development sites, you are likely to be responsible for a contribution to management charges and/or ground rent or a contribution to the development service charge. Please enquire at the time of viewing.
You may also incur fees for items such as leasehold packs and, in addition, you will also need to check the remaining length of any lease before you complete a mortgage application form.
Please ask a member of our team for any help required before committing to purchase a property and incurring expense.