FOR SALE COMMERCIAL/RESIDENTIAL INVESTMENT - 48 Eign Gate & 4-6 Bewell Street, Hereford HR4 0AH

FOR SALE COMMERCIAL/RESIDENTIAL INVESTMENT - 48 Eign Gate and 4-6 Bewell Street Hereford HR4 0AH

48 Eign Gate, Hereford, HR4 0AB

4844 sq ft
For sale £275,000

LOCATION
48 Eign Gate and 4-6 Bewell Street is located in a central city centre location with frontage onto both streets, with Eign Gate being part of the pedestrianised centre. Nearby are both national retailers, local shops together with part developed student accommodation and a family fun venue.

DESCRIPTION
The property benefits from frontage to both Eign Gate and Bewell Street with a separate stairwell to the residential flats from Bewell Street. The property is arranged over basement, ground, first floor and second floors and extends to approximately 450sqm (4,844 sq ft).

48 Eign Gate - A grade II listed building, occupied as a European Supermarket, arranged over basement, ground and second floors with the ground floor being retail space and the other floors used for storage. The property is let on a 4 year term (expiring 1 August 2026) at a current rent of £9,000pa.

4-6 Bewell Street - The ground floor of the building, occupied by an education provider, and arranged as a classroom and reception, kitchen, toilet and storage. The property is let on a 10 year lease (expiring October 2033) at a current rent of £8,400pa with rent reviews and mutual break clauses in October 2026 and October 2029.

Flat 1, 6 Bewell Street - A first floor flat comprising an open plan kitchen/living room, 2 bedrooms and a shower room. The property is let on an assured shorthold tenancy, with a guarantor, at a rent of £595pcm (£7,140pa).

Flat 2, 6 Bewell Street - arranged over first and second floors as a 2/3 bedroom flat, let on a 125yr lease from 14 March 2018 at a current rent of £50pa.

A service charge in respect of building insurance and the maintenance of the building is payable by the occupational lesses and the long leaseholder.

SERVICES
Mains water, drainage and electricity are connected.
N.B. None of the appliances or services have been tested in the property and interested parties should satisfy themselves as to their suitability and safety.

TERMS
PRICE
£275,000 for the freehold interest, subject to the existing tenancies.

OUTGOINGS
BUSINESS RATES AND COUNCIL TAX
48 Eign Gate - Rateable Value £9,600
4-6 Bewell Street - Rateable Value £6,900
Flat 1 - Band A

LEGAL COSTS
Each party to be responsible for their own legal costs incurred in this transaction.

OTHER
Services, Fixtures, Equipment, Buildings & Land - none of these have been tested by Jackson Preece Ltd. Any interested party will need to satisfy themselves as to the type, condition and suitability for purpose.

MISPRESENTATION ACT
These particulars are prepared with care, but are not guaranteed and do not constitute, or constitute part of, an offer or contract. Intending purchasers must satisfy themselves of these particulars' accuracy by inspection or otherwise, since neither the vendor, nor Jackson Preece Ltd shall be responsible for statements or representations made. The Vendor does not make or give, and neither Jackson Preece Ltd nor any person in their employment has any authority to make or give any representation or warranty in relation to this property.
We would strongly advise anyone wishing to view this property to contact us first, particularly if travelling any distance, to confirm availability and to discuss any material facts relating to it which are of importance to them and we will endeavour to verify such information.

VIEWING
Strictly by prior appointment with the Agents, Jackson Preece, Surveyors & Commercial Agents 01989 768555