Investment Under Offer 1 King Edward Street, Ashbourne DE6 1BW

Where is the Investment located?

Ashbourne is a popular market town in the Derbyshire Dales District, located approximately 12 miles north east of Uttoxeter and 14 miles west of Derby.

The premises are situated on King Edward Street, adjacent Ashbourne's bus station and main town centre car park. Nearby occupiers include Sainsbury's, Boots and many independent food/drink & clothing shops. Street parking and public transport are close by.

Ashbourne Town Centre is set to receive significant investment following £15m of Levelling Up funding being approved, Initial works plan to transform public spaces including Market Place, Victoria Square, Millennium Square and Shrovetide Walk. The second phase shall focus on a new community hub, transforming the Methodist Church into a multi-purpose community building with a wide range of event and meeting spaces, a performance venue and flexible work areas.

New traffic management plans will also transform the pedestrian experience in Ashbourne by widening footways and providing new and improved crossings as part of the third project.

What 3 Word location: plunge.wiggles.excusing

Description

Impressive and highly prominent mixed use investment. Comprising; well let ground floor restaurant /café with 2x luxurious duplex apartments above (1 x 1-bed and 1 x 2-bed).

The property has been reroofed and refurbished to the highest standards throughout. The 2 apartments have been completely overhauled and recently fitted with brand new electrics, kitchen, toilet and floor coverings. The vendor has spent approximately £200,000 on the building over recent years.

How has the accommodation been measured?

The accommodation has been measured on a Net Internal Area (NIA), measured in accordance with the RICS Code of Measuring Practice.

Planning

The property's planning history can been seen on the Derbyshire Dales District Councils planning portal (https://planning.derbyshiredales.gov.uk/online-applications/) using references 11/OO191/FUL and 14/OO39O/FUL. The ground floor has a permitted use as a restaurant (Use Class A3) and the upper floors as residential.

Services

It is our understanding all mains services are available at the property and the units are separately metered.

What is the Ratable Value?

The property is currently listed as a cafe and premises on VOA.gov.uk.

The apartments are to be assessed for council tax.

Rateable Value: £15,000

Rates Payable: £7,485

How is the accommodation offered?

Freehold

The freehold is for sale, with the benefit of the ground floor lease. The apartments are offered with vacant possession.

The ground floor is let to a popular local restaurant & café, The Little Shed. The business is ran by Anneka Yeomans who has considerable experience in the food & hospitality industry. The lease is in the name of The Little Shed Ashbourne Ltd (company registration number: 07789144) at a passing rent of £18,000 & with a term expiring 2026. The company has a satisfactory credit rating on Experian and has an impeccable payment history with the vendor.

Price

£695,000 Guide price. Please check the VAT status.

VAT

All figures are quoted exclusive of VAT, we are advised the property is not registered for VAT.

EPC

B (38)

What are the viewing arrangements?

Please check our website for a virtual tour. Physical viewings with proceedable parties can be arranged on request by contacting OMEETO 01332 840 328 or our joint agents Landa Associates 0115 772 2525. We do not take any responsibility for any loss or injury caused whilst carrying out a site visit.

Anti-Money Laundering (AML)

Any offer accepted is subject to completing AML checks.

Note

Plans, maps and drawings are not to scale.

Particulars Updated

25-Sep-2023