Bury St Edmunds ● Cambridge ● Huntingdon ● Peterborough

‘Voted by the Estates Gazette Most active agent in the East of England 2014, 2015, 2016’

5 King Street, Mildenhall,

Suffolk, IP28 7ES

• Investment/development

opportunity

• Prominent position

• Ground floor let to builders merchant

• Prior approval for 5 first floor flats

• Producing income of £34,000 p.a

• Town centre location

Price: £650,000 plus VAT Size:1,630sqm (17,459sqft)

Set on 0.58acres

INVESTMENT/DEVELOPMENT

FOR SALE Mildenhall 01284 702 655

Note: Barker Storey Matthews is the trading name of BSMH Ltd. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be found at: www.ipmsc.org/standards/office

LOCATION Mildenhall is an attractive market town situated off the A11 in Suffolk, approximately 10 miles from Newmarket, 11 miles from Bury St Edmunds and 25 miles from Cambridge. The town has a population of approximately 10,000 inhabitants which is significantly bolstered by the populations of RAF Mildenhall and RAF Lakenheath and the nearby expanding village of Red Lodge. The property is located prominently on King Street, with nearby occupiers including the Co-Op, Costa Coffee, Wilko’s and Sainsbury’s.

DESCRIPTION & LEASE TERMS The property comprises a large department store style premises situated in a two-storey building with first floor ancillary and retail/office accommodation with a builders merchants and yard to the rear housed in single-storey buildings with a yard area and car parking. The property benefits from forecourt car parking and occupies a larges site of approximately 0.58 acres in a town centre location.

The ground floor of the property is let to Bussens & Parkin (2015) Ltd (Company registration

number 09742944 ) on a lease dated 4th

November 2015 for a term of 15 years at a rent of £34,000 per annum with 5 yearly rent reviews.

ACCOMMODATION Ground Floor 578.3sqm (6,225sqft)

First floor 284.8sqm (3,065sqft)

Outbuildings 289.4sqm (3,115sqft)

Warehouse 248.04sqm (2,669sqft)

Mezzanine 230.00sqm (2,475sqft) Total GIA: 1,630.54sqm (17,459sq ft)

All measurements above are approximate.

SERVICES

Mains electricity and water are available to the premises. Interested parties are however advised to make their own enquiries of the relevant service providers. No warranty can be given in respect of the condition or working order of services, fixtures and fittings.

PLANNING The ground floor retail premises have established use for A1/B8 retail and builders merchants. The first floor offices have prior approval granted for change of use to create 5 dwellings under application number DC/16/1038/P3JPA .

BUSINESS RATES We understand from internet enquiries made from the VOA website that the property has a current rateable value of £26,750. For the year commencing 1 April 2019 rates will normally be charged at 50.4p in the pound over £51,000 RV and 49.1p under £51,000 RV. However the amount may be affected by transitional adjustments or small business rates relief and could be higher or lower - interested parties are advised to check with the local authority.

PRICE Offers are sought for the freehold subject to the existing tenancies in the region of £650,000. We understand that VAT will be charged on the purchase price.

EPC The property has an EPC Rating of D (76). A copy of the EPC is available to view on our website.

LEGAL COSTS Each party to be responsible for their own legal costs however the prospective purchaser will be required to provide an abortive undertaking.

VIEWING

Strictly by appointment with the agents:-

Barker Storey Matthews

Davies House, 4 Hillside Road Kempson Way,

Bury St Edmunds, Suffolk, IP32 7EA

Contact:

Simon Burton sb@bsm.uk.com

Steven Mudd sm@bsm.uk.com

(01284) 702655

Ref: 4694/191111

Bury St Edmunds ● Cambridge ● Huntingdon ● Peterborough

Indicative first floor layout plans for residential development. Not to scale.

Note: Barker Storey Matthews is the trading name of BSMH Ltd. Reg No. 2566342. These particulars do not constitute or form any part of an offer or contract nor may they be regarded as representations. All interested parties must themselves verify their accuracy. All measurements are approximate. Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax. NIA Refers to Net Internal Area. Where appropriate or stated IPMS 3 relates to the International Property Measurement Standards 1st Edition. A definition can be found at: www.ipmsc.org/standards/office

Bury St Edmunds ● Cambridge ● Huntingdon ● Peterborough

ORDNANCE SURVEY PLAN

THIS PLAN IS REPRODUCED FROM THE ORDNANCE SURVEY MAP WITH THE PERMISSION OF THE CONTROLLER OF HER MAJESTY’S STATIONERY OFFICE, © CROWN COPYRIGHT RESERVED.

THIS PLAN IS PUBLISHED FOR IDENTIFICATION PURPOSES ONLY AND ALTHOUGH BELIEVED TO BE CORRECT, ITS ACCURACY IS NOT GUARANTEED AND IT DOES NOT FORM PART OF ANY CONTRACT. LICENCE NO. 100003928