- Listed Market Town Investment
- Handsome Georgian town house conversion located in conservation area.
- Comprises ground floor open plan retail unit with 57 ft frontage onto main street, let as a restaurant.
- Remainder of the building is let on long lease to a developer who has converted it to six flats.
- Producing £22,100 rising to £24,600 in June 2021.
Listed Market Town Investment
Located in a conservation area, with a frontage of 57 feet to a main street, this handsome Georgian town house has been converted to provide a ground floor open plan retail unit let as a restaurant, while the remainder of the building is let on long lease to a developer who has converted it to six flats.
Producing £22,100 rising to £24,600 in June 2021.
43 BURTON STREET
Width: 31 ft (9.45m)
Depth: 52 ft (15.85m)
Sales Area: 1,515 sq ft (140.75 sq m)
Ancillary: 21 sq ft (1.95 sq m)
Outside: Part of the rear yard for parking
Terms: Let from 1st June 2017 to 28th September 2022 to a sole trader with the authorised guarantee of Eric’s Fuels Ltd, at £22,000 rising to £24,500 per annum on 1st June 2021, on tenant’s full repairing and insuring terms.
47 BURTON STREET
Terms: Let from 10th October 2005 to 9th October 2130 with four parking space in rear yard at £100 doubling every 25 years, on tenant’s full repairing and insuring terms. Originally let as offices, the lease was sold to a developer who has converted to flats now being marketed for sale on subleases from £110,000.
The property is listed Grade II, along with the greater proportion of buildings in the street, which has been transformed by the new Council Offices, public carpark and railway station improvements opposite.
The building stands prominently beside the main A606 approach road to the south of the town centre on part of the inner circulatory route. Melton Mowbray is an expanding and thriving historic market town and the Rural Capital of Food, offering good shopping and leisure opportunities serving a population of 25,000 with a retail catchment of approximately double this figure. Melton has a predominantly agricultural base and hosts weekly cattle and farmers markets as well as stall markets three times a week. It lies approximately 15 miles north east of Leicester (A607), 20 miles south of Nottingham (A606) and 16 miles south west of Grantham (A607) and the A1. The town has good intercity rail links to Leicester and Peterborough with direct train lines to London from both Grantham and Leicester.
VIEWING: Attend exterior in daylight hours, attend restaurant as customer and apply to Lessee’s sales agent to see flats. All enquiries to Shouler & Son, Wilton Lodge, 1 Wilton Road, Melton Mowbray, Leicestershire LE13 0UJ. Tel:- (01664) 410166.
TENURE: Freehold, fully let as above. The carriage arch and yard are subject to a right of way to 45 Burton Street, a small office building which includes one freehold parking space in the yard.
VAT: The vendor is revoking his option to tax and therefore VAT will not be payable on the rents or selling price.
SERVICES: Mains electricity, gas, water and drainage are connected. The service installations have not been tested by the agents so prospective purchasers should make their own enquiries as to their condition and suitability for intended use.
RATEABLE VALUE: No.43 - £18,000 No.47 – Residential conversion, not assessed for business rates.
EPC: No.43 is exempt as Listed but has an Energy Performance Asset Rating Band C. Ref: 0498-0892-5430-8390-6203. The full EPC available on request and downloadable from: https://www.ndepcregister.com/
No.47 EPC rating exempt as Listed.
"Because of changes in function of my company I needed to sell an industrial property and move into new offices. After considering a couple of Estate Agents I was pleased to engage Shoulers to act on my behalf. They acted with speed and efficiency and I was delighted that the property sold within days and at a very acceptable price. I would recommend them and in particular Helen Montague unreservedly."