Full Details
Location -
The property is very prominently located fronting Exchange Street in Aylesbury town centre at the entrance to Exchange Street Car Park. Furthermore, it is opposite a multi-storey car park and Waitrose together with the Waterside Theatre. The town centre shops including Friars Square and Hale Leys Shopping Centres are close by.
Description -
Prominent town centre retail / showroom premises available with vacant possession with residential upper parts long leasehold investment for sale / to let.
Investment Summary
The building comprises the freehold of the whole of this four storey building which comprises showroom accommodation on the ground floor, with six self-contained flats situated on the upper floors that have been sold off on long leases. The premises have a wide frontage with a return frontage to Exchange Street Car Park.
The showroom accommodation is currently used to display bathrooms but can be opened out to provide mainly open plan accommodation and would suit a variety of different uses subject to obtaining the necessary consents where required.
Vacant possession of the ground floor accommodation will be available on completion of a sale.
The ground floor retail unit is also available to let and is suitable for a variety of uses under Class E.
Accommodation -
The premises provide the following accommodation measured on an approximate gross internal area basis: -
Ground Floor Retail: 2,595 sq. ft / 241.08 sq.m
First Floor: 2 x 2 bedroom flats
Second Floor: 2 x 2 bedroom flats
Third floor: 2 x 2 bedroom flats
The six self-contained residential flats in the upper parts have all been sold off on long leases as summarised below:
Flat 1 (first floor), 25th March 1982 - 24th March 2206
Flat 2 (first floor), 25th March 1982 - 24th March 2081
Flat 3 (second floor), 25th March 1982 - 24th March 2081
Flat 4 (second floor), 25th March 1982 - 24th March 2081
Flat 5 (third floor), 25th March 1982 - 24th March 2232
Flat 6 (third floor), 25th March 1982 - 24th March 2081
Car Parking -
There is extensive pay and display parking adjoining the property and each flat has a parking permit.
Terms -
Our clients seek offers in excess of £650,000 plus VAT if applicable for the freehold.
Rent -
£55,000 per annum plus VAT for a new full repairing and insuring lease for a term to be agreed for the ground floor retail unit.
Rateable Value -
The Valuation Office indicates a Rateable Value as of 1st April 2023 of £10,750 for the ground floor premises. Rate in the £ for 23/24 is 49.9p.
Energy Performance Rating -
The EPC rating for this property is D-81.
Viewing -
Strictly by appointment with the Sole Agents Duncan Bailey Kennedy:-
Tom Good / Adrian Dolan / Elliot Mackay
Email: tomg@dbk.co.uk /adriand@dbk.co.uk / elliotm@dbk.co.uk
Telephone: 01494 450951