24 Catmos & 2a Mill Street, Oakham, Rutland
Offers around £525,000, shop, for sale

Key features

  • Prominently located mixed use freehold investment
  • Comprising of three shops
  • One with three storey retail and ancillary
  • The second comprises an adjoining ground floor unit
  • The third is a self-contained three storey shop with ancillary
  • Includes a self-contained two bedroom mainsonette and a derelict barn of approximately 400 sq. ft.

Property Description

MIXED USE FREEHOLD INVESTMENT

The property comprises three shops, one with three storey retail and ancillary having dual street frontage, the second comprises an adjoining ground floor unit with Mill Street frontage suitable for an associate business/sub-letting and the third a self-contained three storey shop with ancillary, vertically divided from the rest of the property. The sale also includes a self-contained two bedroom maisonette and a derelict barn of about 400 square feet, located to the rear.

Commercial

An attractive mixed use property prominently located in a sought after town centre location on a busy junction at the end of the High Street with frontages onto both Mill Street and Catmos Street. Built in 1876 of brick under a slate roof and extending over three floors the building retains some attractive Victorian features and signs of its past use as a grocery store and bakery. With Nos. 24 and 2a coming vacant, the premises offers an exciting opportunity for a business owner to take occupation or investment prospects for the onward re-letting of part. Neighbouring occupiers include a wide range of high class independent traders with nationals such as Spec Savers, Pandora at Pearces, Barclays, Boots the Chemist, Nero's, Fat Face and Costa Coffee close by.

ACCOMMODATION

No.24 Catmos & 2a Mill Street Both available with vacant possession on relocation of James Sellicks, the shops are nicely appointed as an estate agent's offices and would suit continued A2 professional or A1 retail use or alternative uses, subject to necessary consents where required.

No.24 Catmos Street
Net Internal Area: 1,153 sq. ft. (107.1 sq. m.) comprising ground floor retail with partitioned office, W.C., kitchenette, ancillary office and first and second floor ancillary stores. (See Lettings particulars for further details).

No.2a Mill Street: (the part trading as Eden)
Ground Floor Sales area: 140 sq. ft. (13 sq. m.)
Services & amenities shared with No.24. Suitable for an associate business or for sub-letting. (See Lettings particulars for further details).

No.2b Mill Street: A retail unit amounting to approximately 990 sq. ft. with ancillary over two upper floors.
Tenant: Currently let to a private trader operating as a Turkish barbers on an internal repairing and insuring lease at a passing rent of £12,000 per annum from 1st Feb 2018 ending 24th December 2020, with an option to renew for a further 3 years including RPI rent revision clause.

Flat 2 Mill Street: A self-contained two bedroom maisonette comprising Entrance Hall, Lounge, Dining Room/Bedroom 3, Kitchen, Utility, to the first floor plus Two Double Bedrooms and Bath/Shower room/W.C. to the second floor. The flat has Gas Central Heating and its own self-contained entrance from Mill Street. Permit on-street parking available from Rutland County Council.
Tenant: Currently let on an assured shorthold tenancy until 21st June 2021 at a passing rent of £560.45 per calendar month.

The Barn, Mill Street
A derelict barn of about 400 sq. ft. (30' x 13' approx.) of brick and stone construction partially roofed in slate. Accessed from Mill Street by right of way over a shared driveway and yard.

GENERAL INFORMATION

VIEWING: Of vacant parts strictly by appointment with Shouler & Son, Wilton Lodge, 1 Wilton Road, Melton Mowbray, Leicestershire, LE13 0UJ. Tel:- (01664) 410166. Contact: Helen Vesper-Smith e: helenvs@shoulers.co.uk.

TENURE: Freehold, vacant possession upon completion of 24 Catmos Street and 2a Mill and The Barn, and subject to tenancies on No.2. and No.2b Mill Street. Proposals to rent No.24 and 2a will be considered. (See Lettings particulars).

REGISTERED TITLES: Both LT333154 (Nos.24, Flat 2) and LT333155 (Nos.2a & 2b) are included in the sale.

SERVICES: Mains electricity, water and drainage are connected (2a shares services with No.24). Flat 2: Gas is also connected. The Barn: No services connected. The service installations have not been tested by the agents. Prospective purchasers should make their own enquiries.

RATEABLE VALUE: No.24: £14,000. No. 2a: £3,750. No.2b: £9,000. COUNCIL TAX: Flat 2: Band B

VAT: We understand that VAT is not payable on the selling price.

EPC: Flat 2, Mill St: EPC Rating Band D. Ref: 2258-0095-6216-7170-3914. 2b Mill St: EPC Rating Band E. Ref: 9990-7995-0383-6710-8050. 24 Catmos St & 2a Mill St: This building has an Energy Performance Asset Rating Band D.
Ref: 0950-0730-1522-1422-5006. The full EPC available on request and downloadable from: https://www.ndepcregister.com/

LOCATION: Oakham is the historic market town of Rutland known as 'The County of Good Taste' offering good shopping and leisure opportunities serving a population of circa 12,000. Oakham hosts a twice weekly stall market and monthly farmers' market and offers good bus, rail and road links located 8 miles west of the A1, connecting with Peterborough (25mi), Melton Mowbray (9.5mi), Uppingham (6mi), Stamford (11mi), Grantham (22mi) and Leicester via A47 (25mi).

Commercial

"Dear Helen Thank you for a wonderful job. Kindest regards Mr H R"
Mrs HR