Acting as the agent for the vendor in the sale of the former convenience store premises at 52 The Glebe following the business going into receivership. Barker Storey Matthews advises that the new owner is looking to refurbish the property and improve its energy performance to raise it to the standard for letting.
The ground floor lock-up shop is 71.8 sq m (773 sq ft) and the self-contained, two bedroom flat above the shop gives 65.74 sq m (151.06 sq ft) of residential accommodation. In addition to the main property, there is a garage which was included in the sale.
The property was marketed for sale by Barker Storey Matthews at £175,000 and was sold to a private interest. The price achieved remains confidential but the agent reports there is a good demand for sensibly priced properties of this sort given the lack of freehold commercial village premises available.
Steven Mudd of Barker Storey Matthews’ office in Bury St Edmunds oversaw the sale of the property and he adds, “The cooling of residential freehold prices does not appear to have affected the commercial market in Bury St Edmunds and its surrounding villages.”
For more information about commercial properties for sale in Suffolk, contact Steven Mudd, Barker Storey Matthews Bury St Edmunds, tel 01284 702655 or see bsm.uk.com.