Retail premises to let in Institute Lane, Alfreton DE55

Location

The subject premises occupy a prominent location on the western side of the pedestrianised Institute Lane in Alfreton town centre, close to its junction with High Street.

Alfreton benefits from excellent road communications sitting adjacent to the A38 which links Junction 28 of the M1 motorway with Derby.

Institute Lane remains a prime retail location within Alfreton town centre with established retailers, including Boots, Greggs, Timpsons, Card Factory and Specsavers. The towns Tesco Superstore is also in close proximity.

The property is situated adjacent to the Severn Square Car Park and Alfreton Bus Station.

Description

The premises comprise a corner positioned retail unit, formerly occupied by Wilko's, providing sales at ground floor benefiting from entrances off Institute Lane and Severn Square.

The first floor provides a combination of storage, (accessed by way of a goods lift) offices, meeting rooms, staff breakout rooms, along with male, female and disabled WC facilities.

A loading bay is located to the rear of the property accessed vis Chapel Street to the west.

Accommodation

The property has the following Net Internal Areas in accordance with the RICS Code of Measuring Practice, 6th Edition:

Ground Floor: 1,325.5 Sq M / 14,225 Sq Ft
First Floor: 1,060.3 Sq M / 11,413 Sq Ft
Total: 2,385.8 Sq M / 25,638 Sq Ft

Floor Plans are available from the Agent upon request.

Terms of disposal

The premises are available immediately by way of a new fully repairing and insuring lease for a term of years to be agreed.

Consideration will also be given to a sale for the freehold interest in the subject premises.

Quoting rent

The property is available at a rental of:

£65,000 per annum exclusive

Guide price

Offers are invited for the freehold in the region of:

£750,000

Business rates

From enquiries made of the voa website we understand that the property is currently assessed as follows:

Local Authority: Amber Valley District Council
Description: Shop & Premises
Rateable Value: £96,500

Services

It is understood that mains water and electricity are available and connected to the premises.

Planning

From enquiries made of Amber Valley District Council it is understood that the property currently has the benefit of a Class E Consent.

Alternative uses may be permitted, although interested parties are advised to make their own enquiries of Amber Valley District Council's Planning Department in respect of their proposed use.

VAT

All sums are quoted exclusive of VAT, if applicable.

Energy performance certificate

An EPC has been requested and will be made available in due course.

Legal costs

Each party will be responsible for their own legal costs involved in this transaction.