Available
Saint Neots – Vacant Retail With Development Opportunity
58-62 High Street, Saint Neots PE19 1JQFreehold Vacant Ancillary & Ground Rent with Residential Development Opportunity
Price
£750,000
Rent P.A.
Vacant
Tenure
Freehold
Area
8,073 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Planning permission granted (unconditional) for conversion of first and second floor to 15 residential apartments (C3)
- GDV: £2,100,000
- Vacant possession
- Comprises vacant former retail ancillary at first and second floor, accessed from the rear
- Includes 7 retail units at ground floor which have been sold-off on long leaseholds (999 years)
- Planning approved in October 2024 for conversion of first and second floor to 15 residential apartments (C3)
- Further development potential to create 17 residential units in total, subject to obtaining the necessary consents
- Situated in the heart of the town centre with occupiers nearby including M&S Simply Food, Barclays, Boots, Lidl, Argos, Cineworld Cinema, Restaurants, Cafes and many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises large former retail ancillary at first and second floor, with residential development potential. Ground floor provides 7 retail units which have been sold-off on long leaseholds, providing the following accommodation and dimensions:
First Floor: 500 sq m (5,382 sq ft)
Open plan retail ancillary
Second Floor: 250 sq m (2,691 sq ft)
Open plan retail ancillary
Ground Floor: 7 retail units (sold-off)
Total available GIA: 750 sq m (8,073 sq ft)
Development Opportunity:
Planning permission (unconditional) granted in October 2024 for conversion of first and second floor to 15 self-contained residential apartments (2 x Studios, 10 x 1-Bed and 3 x 2-Bed). Most apartments are larger than average size, providing the following accommodation and dimensions:
First Floor: 480.6 sq m (5,172 sq ft)
2 x Studios, 6 x 1-Bed and 2 x 2-Bed Apartments
Second Floor: 245 sq m (2,636 sq ft)
4 x 1-Bed and 1 x 2-Bed Apartments
Proposed Residential GIA: 725.6 sq m (7,808 sq ft)
Further development potential to create 17 residential units in total, subject to obtaining the necessary consents.
First Floor: 500 sq m (5,382 sq ft)
Open plan retail ancillary
Second Floor: 250 sq m (2,691 sq ft)
Open plan retail ancillary
Ground Floor: 7 retail units (sold-off)
Total available GIA: 750 sq m (8,073 sq ft)
Development Opportunity:
Planning permission (unconditional) granted in October 2024 for conversion of first and second floor to 15 self-contained residential apartments (2 x Studios, 10 x 1-Bed and 3 x 2-Bed). Most apartments are larger than average size, providing the following accommodation and dimensions:
First Floor: 480.6 sq m (5,172 sq ft)
2 x Studios, 6 x 1-Bed and 2 x 2-Bed Apartments
Second Floor: 245 sq m (2,636 sq ft)
4 x 1-Bed and 1 x 2-Bed Apartments
Proposed Residential GIA: 725.6 sq m (7,808 sq ft)
Further development potential to create 17 residential units in total, subject to obtaining the necessary consents.
Location Description
St Neots is a busy Cambridgeshire market town with a population of some 31,500, lying 15 miles west of Cambridge and 59 miles from London. The town has good road communications being adjacent to the A1, south of the A14. The property is situated in the heart of the town with occupiers nearby including M&S Simply Food, Barclays, Boots, Lidl, Argos, Waitrose, Cineworld Cinema, Restaurants, Cafes and many more.
