Mixed Use investment - Oakham Town Centre LE15 6AX

Mixed Use investment – Oakham Town Centre LE15 6AX

For Sale £275,000


  • LOCATION

  • This Semi-Detached mixed-use investment occupies a prime location just at the top of Oakham High Street surrounded by a mix of retail and leisure outlets.

  • Oakham is a popular Market town and the County capital of Rutland, the smallest County in the UK. Well positioned in the Midlands close to the A1 at Greetham/Stretton with good access to other popular market towns, Stamford, Melton, Grantham and Uppingham all within 15 miles, and cities to include Peterborough and Leicester within 20 miles away. Motorway access is circa 20 miles West at Junction 21a, via the A46 from Melton Mowbray.

  • DESCRIPTION

  • A 2-storey brick-built semi-detached property under a pitched tile roof. External staircase leading to the first floor flat,

  • ACCOMMODATION

  • The ground floor is let to a local florist - the space offers 900 sq ft of open retail space with Store to the rear. W/c and kitchenette. The main trading area is circa 14’ x 40’

  • On the first floor is a one-bedroom flat,
  • Kitchen - 6'5" x 13'10" - recently re fitted with new units and oven
  • Sitting Room - 13' 10" x 12' 6" - spacious and light benefitting from 2 windows to the front elevation
  • Bedroom - 10' 3" x 7' 4 - with large, fitted wardrobes
  • Bathroom with separate w/c
  • The flat benefits from an outside decking area on the flat roof with separate external access.

  • AMENITIES

  • Located in Oakham Town centre, surrounded by mainly commercial retail space - a 2-minute walk to the bus station and a 5-minute walk to Oakham Train station.

  • SERVICES

  • The property has gas central heating and the boiler was replaced in 2021. We are advised that all main services are connected to the property. These services have not been inspected or tested by the agent.

  • TERMS

  • Offered for sale freehold at a guide price of £275,000
  • The flat is let out on a 1-year agreement from May 2022 at a rent of £530 pcm
  • The ground floor shop tenant is holding over - the ERV for the commercial space would be guided at £12,000 per annum.
  • Vacant possession on completion could be offered.

  • OUTGOINGS

  • The commercial business rateable value is £6,400 - This will be payable by the tenant in occupation.
  • The Flat is Council Tax Band A - £1,228 per annum

  • VAT

  • The property is not opted to tax and will not attract VAT on the sale price.

  • LEGAL COSTS

  • Both Parties will be responsible for their own legal costs.

  • SERVICE CHARGE

  • Not applicable

  • OTHER

  • Finance may be available through Independent Financial Brokers and P & F Commercial would be pleased to make an introduction for you. The Brokers are completely Independent and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

  • VIEWING

  • Strictly by prior appointment via the sole agents P & F Commercial Tel: 01664 431330 or via email office@pandfcommercial.com


    Property Details

    • Reference: 10728
    • Type: Investments
    • Status: Under Offer

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