Property Information
Address:
2-4 TAVERN STREET, STOWMARKET
, IP14 1PH
Price: Property no longer available.
Size: 7477 sq ft694 sqm
Primary Category: Investment
All Categories:
Investment, Shop,
Property Ref/Movehut: MH359407
Property Ref/Agent: 2-4 TAVERN STREET, STOWMARKET, IP14 1PH
*Please use the agent ref when calling the agent directly.
Property description
LOCATION
Stowmarket is an expanding market town in central Suffolk, situated between Bury St Edmunds and Ipswich, benefiting from easy access on to the A14. The town has a resident population of about 13,400 and an estimated retail catchment of 78,400. The premises are located in Tavern Street, close to the junction with Ipswich Street, Stowmarket s main shopping street. Nearby traders include Holland &Barrett and The Carphone Warehouse, together with a variety of independent retailers.
DESCRIPTION
The property comprises two interconnecting two-storey buildings, prominently fronting Tavern Street. The premises are currently used as a department store. The ground and first floor provides predominately sales accommodation, together with some ancillary rooms. The premises benefit from a goods lift and rear servicing.
ACCOMMODATION
All measurements approximate Ground Floor
Sales 3,543 sq ft (329.03 sq m)
Storage 120 sq ft ( 11.20 sq m)
First Floor 3,814 sq ft (354.05 sq m)
Total 7,477 sq ft (695.00 sq m)
TENANCY DETAILS
The property is let on a full repairing and insuring basis, subject to a schedule of condition, to Baldwins Department Store Limited, for a term of 5 years from October 2010 at a current passing rent of £29,225 per annum exclusive.
The lease is guaranteed by Kevin Baldwin. Baldwins Department Stores has three branches (Ipswich, Dovercourt and Stowmarket)
TERMS
Guide price £325,000 (three hundred and twenty five thousand pounds) for the sale of the freehold subject to the existing lease (subject to contract), plus VAT.
;