Property Description

THE PROPERTY
The property comprises the ground floor of an attractive building at the southern end of the High Street
Excellent ground floor office space with good display window
Reception area, meeting room and office space
Kitchen and WC

LEASE TERMS
A new tenant is sought for a period of 9 years, with rent reviews at 3 yearly intervals
Initial Rent: £20,000 pa payable quarterly in advance

REPAIRING AND INSURING COVENANTS:
The tenant to be responsible for maintaining the interior of the premises and all the doors and windows
Contributing 50% to repairs of the main walls, foundations, and roof of the building
Refunding 50% of the landlord’s buildings insurance premium for the whole building and all the premium for three years loss of rent

LEGAL TERMS
The incoming tenant is to pay the legal and marketing fees involved in the new letting

RATEABLE VALUE
The current Rateable value is £16,000
Business rates payable for the current year (2023/24 at 49.9p in the £) are £7,840

FURNITURE AND EQUIPMENT
Some items of furniture and equipment may be available by separate negotiation

RESERVATION DEPOSIT
On agreeing to take a new lease the prospective lessee will be expected to pay a reservation deposit of £1,000 which will be refunded on completion.
Should however the prospective lessee withdraw from the transaction for any reason, or amend or alter the terms agreed such that the lessor withdraws from the transaction, then the lessor’s agents and solicitor’s abortive costs will be deducted from the deposit, and the balance, if any, will be refunded

REFERENCES
Bank, trade, accountants, and personal references will be required.