15 Broad Street, Lyme Regis
- PROPERTY TYPE
Commercial Property
- SIZE
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Description
Shop Premises let on a 11 year lease (Rent: £11,340 p.a., expiring 31st March 2027, with current 3 yearly rent reviews).
Residential Flat to Upper Floor, let on a prospective 999 year lease (currently being finalised and completed), at a nominal ground rent of £50 p.a.
A substantial and attractive 3-storey period property occupying one of the best and most prominent locations in Lyme’s main shopping street.
The property is not VAT registered and VAT is not payable on the purchase price.
The Ground Floor Shop Premises - About 32.5m sq
The ground floor shop premises are let to ‘Papa Luca’, a very successful and well established family run business, offering a mix of high quality gifts, fashions and furnishings, ranging from brand new through vintage to antiques. The shop also enjoys ths use of an open rear South West facing courtyard accessed via the back door with a small covered storage area.
In a shop like this a new letting or assignment is usually subject to a sizeable Ingoing premium.
We understand from the Landlord that the current proprietors (trading from the premises for 7 years) during their occupation have been model and exemplary tenants.
Please note that the business, Papa Luca, is not for sale and the above information is provided to outline the current lease arrangement and obligations of the tenants.
The Lease - The current Full Repairing and Insuring lease was granted in 2016, which was reviewed in March 2023 and uplifted to £11,340 p.a. with 3 yearly rent reviews thereafter. The Shop pays 30% of maintenance & insurance costs for the building. A copy of the lease can be made available to seriously interested applicants.
The Flat - The flat to the first floor (with its own ground floor entrance) is prospectively let on a 999 year lease from 1st January 2024 (currently being finalised and completed) at a nominal ground rent of £50 p.a.
The flat pays 70% of maintenance & insurance costs for the building.
A copy of this lease is also available.
Material Information - Local Authority: Dorset Council
Tenure: Freehold
We understand that his property is not registered for VAT. 15 Broad Street sits within a designated conservation area, but it is not a Listed Building.
Viewing - Strictly by appointment with the Vendor’s Agents, Martin Diplock Estate Agents of 36 Broad Street, Lyme Regis.
Brochures
15 Broad Street, Lyme RegisEnergy Performance Certificates
EPC.jpg15 Broad Street, Lyme Regis
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Axminster Station4.8 miles
About the agent
Martin Diplock Chartered Surveyors, Lyme Regis
36 Broad Street, Lyme Regis, Dorset, DT7 3QF
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Notes
Disclaimer - Property reference 32892998. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Martin Diplock Chartered Surveyors, Lyme Regis. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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