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31 Market Place, Retford, Nottinghamshire

4,703 Sq Ft (436.91 Sq M)

£300,000 for the Freehold

Retail Investment

Key Features

RESIDENTIAL DEVELOPMENT OPPORTUNITY

PLANNING FOR CONVERSION OF THE UPPERS TO 7 APARTMENTS

SHOP LET AT £18,000 PAX ON A 5 YEAR LEASE

TOWN CENTRE LOCATION

ASKING: £300,000

General Description


FOR SALE - RETAIL INVESTMENT WITH DEVELOPMENT POTENTIAL

Retail investment with FULL planning for further redevelopment of the upper floors to provide 7 apartments. This is an excellent development opportunity within an affluent market town centre location.

SUMMARY
- Ground floor shop let at £18,000 pax on a new 5 year lease - currently being refurbished
- Full planning permission to convert the upper floors to 7 apartments under application: 22/00940/FUL
- 6 one bed apartments and 1 two bed apartment
- Excellent development opportunity
- Generating a long term income already
- Substantial building - over ground, first and second floors, with front and rear access to the proposed apartments
- Characterful property
- Located off the popular Market Square area of Retford with lots of local amenities within the area
- Total: 4,703 Sq Ft (GIA) / 3639 Sq Ft (NIA)

Available at £300,000



LOCATION
Prominent position fronting Market Place which is a major trading position in Retford. The property sits between Ladbrooks and Argos and
benefits from high levels of footfall and vehicular passing traffic, being adjacent to the road running through the town centre. A range of retail uses are in the locality including pubs and bars, with established local and national tenants close by.

Retford is a North Notts market town which retains it's popular markets on Thursday, Friday, and Saturdays with a monthly farmers market. Retford is well placed to take advantage of the A1 and the high speed rail service to London in around 90 mins.

DESCRIPTION
Three storey retail premises, with a tenant on the ground floor, with the potential to convert the upper floors to residential.

The ground floor shop has been recently refurbished to a high standard, and is operated as a mini market / grocers. The ground floor shop extends to around 1,070 sq ft. The property is grade II listed.


TENANCY




PLANNING
The property benefits from FULL planning for a conversion of the upper floors and rear to provide 7 apartments, whilst still generating an income of £18,000 per annum from the shop.

Planning ref: 22/00940/FUL. Please check the Bassetlaw planning portal for more information.

Please ask the agent for copies of the planning permission and plans.

BUSINESS RATES
As the property is listed, the owner will not be liable for business rates of any vacant areas.

The Rateable Value of the property is £19,750. Please note the property is yet to be separately assessed.


EPC: C

GUIDE PRICE
The asking price is £300,000 for the freehold


ANTI MONEY LAUNDERING
Buyers will be required to comply with AML Regulations.

VIEWINGS AND MORE INFORMAITON

Please contact the agent

Ben Flint
T: 07494735001 / 01302 639838
E: ben@flintrealestate.co.uk