Property SummaryTHE PROPERTY is located on Broadway, a busy thoroughfare linking direct to the city centre. These premises are in the section between Northminster and Church Walk, opposite the Central Library and close to the New Theatre in a mixed retail, office and residential neighbourhood. Other nearby occupiers include the Bombay Brasserie, Salamis Taverna and a variety of fast-food outlets. Large complex of flats is currently under construction a short distance to the south of this property on the former Market and multi-storey car park site.
THIS TWO-STOREY PROPERTY is of brick and tiled construction with a hair salon on the ground floor and former beauty treatment rooms on the first floor. Subject to the necessary planning consents, the first floor could be converted into a self-contained flat with independent access from the rear yard.
Viewing is only by prior arrangement through this Agency.
It is understood that all mains services are either connected, or are available for connection to the property.
The property has a Rateable Value of £13,750 (1st April 2023 assessment)
THE ACCOMMODATION is as follows (N.B. All dimensions are approximate) :-
Hair Salon: 42’ 8” x 15’ 10” (13.01m x 4.83m).
Kitchenette: 7’ 4” x 4’ 9” (2.34m x 1.45m). Stainless-steel sink, worktops with cupboards under. Wall cupboards.
Rear Lobby: Radiator. Stairs off to first floor. Understairs storage. Door to rear courtyard.
Cloakroom: Tiled walls. Vanity unit with cupboards under. Close-coupled W.C.
Landing: Built-in storage cupboard.
Room 1: 13’ 4” (4.06m) max. x 10’ 4” (3.15m) max.
Room 2: 11’ x 9’ 9” (3.35m x 2.97m).
Room 3: 11’ 10” (3.61m) max. narrowing to 8’ 6” (2.59m) x 6’ (1.83m). .
Kitchen: 9’ 8” x 7’ 1” 2.95m x 2.16m). Worktops with inset 1¼ bowl stainless-steel sink with drawers and cupboards under. Wall cupboards. “Ideal” gas-fired boiler serving central heating and hot water.
Shower Room: 7’ 1” (2.16m) narrowing to 4’ 7” (1.40m) x 5’ 4” (1.63m). Glazed shower cubicle with “Triton T80i” shower. Corner vanity unit. Close-coupled W.C.
Enclosed Paved Rear Courtyard: Pedestrian rear access gate.
HEADS OF TERMS (Subject to Contract)
- The lease to be for a period of 21 years on a fully repairing and insuring basis;
- The lease to be excluded from the security of tenure provisions of the 1954 Landlord and Tenant Act 1954;
- The initial rent to be £22,000 (twenty-two thousand pounds) per annum, exclusive of all outgoings;
- The rent to be:-
- Payable in equal quarterly instalments of £5,500 (five thousand and five hundred pounds) in advance;
- Subject to 3-yearly upward only review.
- A premium of £5,000 (five thousand pounds) to be payable for those fittings and fixtures which will remain in the premises when Talking Heads moves to 218 Broadway [The Lessor is preparing a schedule for agreement by the lessee];
- A non-refundable deposit of £2,000 (two thousand pounds) to be paid to and held by the Landlord’s solicitor when solicitors are instructed to prepare the draft lease. (This would be off-set against the premium under (E) above if the lease proceeds to completion;
- The business name “Talking Heads” to be retained by the Landlord;
- The tenant to have the use of the solar panels, but not the tariff;
- Assignment will be permitted subject to Landlord’s approval and satisfactory references being provided;
- The use of the upper floor for residential use to be permitted, subject to the lessee obtaining at his own expense all the necessary planning and other consents and ensuring that vacant possession can be obtained at the end of the term if the flat is sub-let;
- Prospective tenants will be required to pay a holding deposit of £200 (two hundred pounds) pending satisfactory formal referencing with the Lettings Hub which will now be credited against the first quarter’s rent if the tenant proceeds with the lease.