Description
The Property comprises a four storey (plus basement) reinforced concrete frame building with cavity brick terraced elevations, and flat roofing and mixed glazed fenestration.

The property is arranged as four ground floor retail units, a self-contained basement unit, a first floor in use as a gym, second and third floor together with small mezzanine areas are currently vacant.

The buildings are within a fully developed site, with the primary frontage to High Street. There is a two storey element which comprises of one retail unit and entrance to the upper floors which has a frontage to Castle Way. There is also a small loading bay accessed here via Castle Way leading to a goods lift lobby area.

Site & Building Area
The site extends to approximately 0.58 acres (0.235 hectares) and the building has a GIA of approximately 92,913 sq ft.

Tenure
Long Leasehold. 125 years from 25 Nov 1991 (92 years unexpired). Ground rent - 10.5% of the actual rental income of the property – calculated
by either the higher of 10.5% of net rent receivable or the basic rent of £3,000 (whichever is the higher), less permitted deductions.

Price
Offers are invited in the order of £4.995m the long leasehold interest in the property. The guide price reflects a 8.32% NIY based
on a net receivable income of £443,020 per annum (following the deduction of the ground rent). Vacant Units are also available to let by
negotiation, rent on application.

Planning & Conservation
The property is not individually listed but is located within the Old Town North Conservation Area. This means it’s part of a zone recognised for its special architectural or historic interest, even though the property isn’t designated as a heritage site. Being in this area implies stricter planning controls for any changes to preserve the area’s character, enhancing the property’s cultural value due to its historical context.

VAT
VAT is applicable at the prevailing rate.

Dataroom
Access to the data room will be permitted subject to request and status.

Viewing
Formal viewings can be made strictly by appointment with Savills. Where appropriate, we recommend interested parties carry out a discreet customer inspection in the first instance. We kindly request that no approaches are made to staff or the business directly, where applicable.

Anti-Money Laundering Regulations
Regulations require Savills to conduct various checks on purchasers and tenants. Further details are available upon request.