The freehold of a commercial property in a prominent retail location in Ely city centre location is for sale through Carter Jonas with a guide price of £300,000 subject to contract.
Situated at 7-9 Market Place, Ely, the three storey, Grade II Listed property is adjacent to the city’s Cloisters Shopping Centre and faces the Market Square.
Currently fitted out for two retail units with office or storage accommodation, one of the shops produces a rental income of £16,000 per annum, exclusive. The other retail unit at 9 Market Place is vacant.
Carter Jonas advises that vacant parts in the property are in need of modernisation and improvement but also suggests that the upper storeys may be suitable for alternative uses, subject to the usual consents.
In total, the property is 2,982 sq ft (277.02 sq m) with the first and second floors of 1,193 sq ft (110.83 sq m) and 648 sq ft (60.20 sq m), respectively. The vacant retail unit is 482 sq ft (44.78 sq m).
The first and second floor accommodation is also vacant and is accessed independently from the ground floor. Previous use of this space has been for auction rooms and offices.