The premises are located in a central position in Heathfield High Street and comprise one of the largest independent retail units in the town together with a second High Street shop, a store facility, 2 flats at ground floor accessed from Cherwell Road and another 6 flats at second floor over 58 – 62 High Street known as Heathfield Heights as well as allocated car parking spaces.
In more detail the accommodation comprises the following:
58 – 60 High Street, Heathfield. Retail premises let to Trading 4U Limited with a guarantor. Arranged over ground and first floor and comprising in excess of 10,000 sq ft of retail space let at £77,000pa for a term expiring February 2026. Further information regarding this tenant can be found at their website: www.trading4u.co.uk
Warehouse premises, rear of 58 – 60 High Street, Heathfield. Let to Trading for you Limited comprising ground floor storage and let in connection with the above tenancy at £1,000pa
62 High Street, Heathfield. Retail premises let to Walls of Fame. Arranged over ground and part mezzanine floor. This unit is let to a private individual trading under this name at a rent of £17,500pa for a term expiring September 2026. Further information regarding this tenant can be found at their website: www.theframinggallery.co.uk
Heathfield Heights, 58 – 62 High Street, Heathfield. Comprising 6 flats at second floor sold on a single long leasehold interest of 999 years from August 2014 to Heathfield property Management Limited. Each flat is then sold on a long leasehold interest of 999 years less 3 days to individuals. Each flat pays a ground rent of £100pa currently, subject to a fixed review throughout the term.
Flat 1, 3c Cherwell Road, Heathfield sold on a 125 year lease from November 2017, the tenant paying a ground rent of £100pa subject to review throughout the term
Flat 2, 3c Cherwell Road, Heathfield sold on a 125 year lease from November 2017, the tenant paying a ground rent of £100pa subject to review throughout the term
Income from commercial lettings £95,500pa
Income from residential part £800.00pa
Total income currently £96,300pa
Offered for sale freehold subject to the leases above, offers sought in the region of £1.1M representing a return of 8.75% before purchasers costs.
It is considered there is potential to redevelop part of the commercial space to create further residential accommodation subject to obtaining possession and any necessary consents. The freeholders have had preliminary plans prepared but these have not been submitted for approval.
Based on the postcode, Ofcom indicate that the fastest available broadband speed is:
Download1000Mb/s
Upload1000Mb/s
Note: This information is given as a guide only and without liability. Speeds are not guaranteed. The provision of a Broadband connection is not included in any property unless specifically stated. Applicants should verify available speeds with their chosen supplier.
