Retail Unit - Gaol St, Oakham LE15 6AQ

Retail Unit – Gaol St, Oakham LE15 6AQ

For Sale £100,000


  • LOCATION

  • 4 Knights Yard is a retail unit on Gaol Street in the town centre which links South Street to High Street and is the main arterial street connecting the Tesco superstore to the town centre.

  • Oakham is the County capital of Rutland, the smallest County in the UK and is 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. Cities to include Peterborough, Nottingham and Leicester are within 20 miles. Motorway access is circa 20 miles West at Junction 21a, via the A46 from Melton Mowbray.

  • DESCRIPTION

  • Built of brick beneath a slate covered roof around 2006, the Freehold is owned by the Management Company of which all owners are members and the unit has a 999-year lease from 2006 and is therefore a virtual freehold. Other outlets on Gaol Street include Bakers, Hairdressers, Dog Grooming Parlour, Dentists, Cocktail Bar and other retail units along the street.

  • ACCOMMODATION

  • 585 SQ ft of total space with shop space of 418 Sq ft with double window frontage, back office/storeroom (76 Sq Ft) Kitchen (66 Sq Ft) and w/c.

  • AMENITIES

  • Being in the Town Centre, all major amenities are immediately on hand.

  • SERVICES

  • We are advised that all main services are connected to the property. These services have not been inspected or tested by the agent. The property has Gas Fired under floor heating.

  • TERMS

  • The Virtual Freehold is available FOR SALE with offers in excess of £100,000 considered or TO LET for £7,800 per annum. Both options will be subject to VAT

  • If rented, the standard lease will be a 5 year term FRI lease with reviews and breaks to be discussed. A 3-month deposit will be required, rent is paid monthly in advance and references or a personal guarantee may be required.

  • OUTGOINGS

  • According to the Valuation Office Website, the Rateable Value of the property is £6,900 meaning that for qualifying business a 100% small business rate relief could be available. Prospective tenants/purchasers should check with the Local Authority.

  • VAT

  • The property has been elected for VAT and therefore VAT will be added to the purchase price or to the rent. Purchasers or tenants should consult a qualified accountant for ways to recover the VAT element.

  • LEGAL COSTS

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

  • SERVICE CHARGE

  • The Service charge for 2022-2023 for maintenance of the Communal areas is circa £725 to include Buildings Insurance.

  • PARKING NOTES

  • There is no parking allocated or associated with the property. Long stay permits are available in several public Car Parks within Oakham

  • PLANNING

  • Current use is as a Tea Blending and Coffee Grinding outlet with Take away drinks also available.

  • VIEWING

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


    Property Details

    • Reference: 10719
    • Type: Retail
    • Status: Sold STC

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