Where is the Mixed use investment located?
Melbourne is an affluent and highly desirable Derbyshire village situated 8 miles to the south of Derby and 10 miles west of Burton Upon Trent.
The investment for sale is located in the Melbourne Conservation Area and enjoys a corner position at Blanch Croft and Derby Road. An excellent array of niche boutique shops , bars, and restaurants are close by.
Recently refurbished. Superbly presented mixed use investment in village centre, with parking. Exclusive, self-contained cocktail bar on ground floor with separately accessed, two bed holiday let over the upper floors.
The cocktail bar provides a dining/seating area with c 25 covers, a kitchen/preparation area along with customer WC's. This premises is operated under a personal license and is open for weekend trade only with last orders at 11pm.
The upper floors are accessed via a separate entrance to the rear and provide a modern fitted kitchen, living room, bedroom and bathroom on the first floor with master bedroom on the second.
The property has recently been refurbished and is finished to a high standard with a charm of period and contemporary features.
Externally there is a single parking space to the rear with ample street parking close by.
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.
The property has been used under Classes E (Commercial, Business and Service) and C3 (Residential) of the Town and Country Planning (Use Classes) Order 1987 (as amended). The property is GII listed under Ref ID: 1334621 and is understood to have been constructed by Valentine Radford and William Warren in 1810.
We are advised there are single supplies with the shop being sub metered for electricity, water rates being split 50/50 and gas only to the upper floors.
What is the Ratable Value?
The ground floor of the property is currently listed as a restaurant and premises on VOA.gov.uk with an RV of £5,800. There is a separate assessment for the upper floors which are rated as a self catering holiday unit and premises with an RV of £1,300. Please check the valuation office website for any rates incentives. Subject to status the individual elements may qualify for 100% rates relief.
The combined assessment from April 2023 shall be £7,600.
How is the accommodation offered?
The property is available freehold subject to a 5 year, IRI lease (from June 2019) of the ground floor to Valentine & Wills (CRN: 12030974). The current passing rent is £8,250 with a stepped increase to £8,850 in June 2023.
The upper parts is operated on short term lets via Air BnB. The reported 2021 - 2022 revenue was £10,500 and the projected revenue for the current year (based on advanced bookings) is £12,000.
£300,000 Guide price. Please check the VAT status.
All figures are quoted exclusive of VAT, we are advised the property is not registered for VAT.
Retail - B(49)
Flat - E(45)
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 our commercial property agents. OMEETO do not take any responsibility for any loss or injury caused whilst carrying out a site visit.