The property is located in the West Wiltshire town of Warminster, approximately 16 miles south east of Bath and 22 miles north west of Salisbury. There is a mainline railway station at Westbury, about 4 miles.
The Chantry is a Grade II* listed building originally dating back to circa 1750 with early 19th century additions. The building is constructed with Bath stone and features sliding sash windows with stone architrave surrounds. Internally the building features an oak staircase with landing galleries, panelled dados and cornicing. The 3-storey building with a cellar comprises office accommodation with five 1-bed flats. The building features a walled garden.
The land to the rear is currently used as a car park and vehicular access is from The Close. However, there is planning permission in place for the construction of six new dwellings (4 x 2-bed houses and 2 x 1-bed flats) in the car park area. This planning consent granted in 2007 is still valid as enabling works have commenced.
Commercial Tenant: MG3 (Survey) UK Ltd
Passing Annual Rent: £12,500
Lease Commencement Date: 1 February 2014
Lease Expiry: 31 January 2019
Next Rent Review: 1 February 2017
Tenant Bteak Clause: Not applicable.
All flats are occupied under ASTs.
Flat 1 Passing rent pcm £525.00
Flat 2 Passing rent pcm £475.00
Flat 3 Passing rent pcm £850.00
Flat 4 Passing rent pcm £550.00
Flat 5 Passing rent pcm £525.00
Rear Car Park: There are 14 car parking spaces in total with currently 12 let on Licence Agreements at £30 plus VAT per space per month.
Total current rental income £51,920 per annum.
The building has mains electricity, gas, water and drainage. The heating is provided via a gas central heating system, although two of the flats have night storage heaters.
Business Rates & Council Tax
The property was assessed for Business Rates at £9,677 rateable value. The Uniform Business Rate (UBR) for the year 2016/17 is 49.7 pence in the pound (£).
All of the flats are assessed at Council Tax Band A.
The sale is not subject to VAT.
Each party to bear their own legal costs.
Viewing and Further Information
Viewing strictly by prior appointment with the sole agents, Humberts.
Tel: 01722 342391