Full Details
Location -
The premises are situated in a prominent position within Marlow town centre at the southwestern end of Chapel Street at its junction with Dean Street and Spittal Street and within easy walking distance to High Street.
Marlow is situated on the A404 with access north to the M40 and south to the M4. The town also benefits from a railway station with train links to London Paddington via Maidenhead.
Description -
The premises comprise a two storey building, providing a restaurant to the ground floor and basement, with a self-contained dental practice to the first floor. The ground floor provides a dining area to the front, with kitchen and ancillary accommodation to the rear. The dental practice has been fitted out to a high standard by the current tenant and includes a kitchenette and WC facilities. There is car parking for the use of the dental practice to the rear of the premises which is accessed via Liston Road. This provides a total of four car parking spaces parked nose to tail.
A public car park exists on the opposite side of Chapel Street, accessed from Dean Street, with a further car park to the rear accessed via Liston Road.
INVESTMENT SUMMARY
The property is currently fully occupied, the ground floor and basement accommodation is let to Gazania Restaurants Ltd for a term of 15 years from 25th March 2022 at a rent of £42,500 per annum, expiring on 25th March 2037. The lease is full repairing and insuring and there is an outstanding rent review effective 25th March 2022 and there are four yearly upward only rent reviews.
The first floor is let to a dental practice for a term of 20 years from 9th April 2010. The rent review dated April 2022 was agreed recently at an increase in rent to £18,460 per annum.
Accommodation -
The premises provide the following accommodation measured on an approximate net internal area basis:
Basement: 10.12 m2 / 108.93 sq ft
Ground Floor: 115.77 m2 / 1,246.14 sq ft
First Floor: 82.82 m2 / 891.47 sq ft
Total: 208.71 m2 / 2,246.54 sq ft
Terms -
Our clients seek £975,000 for their freehold interest. The property is elected for VAT, however the sale will be treated as a transfer of going concern (TOGC).
DUE DILIGENCE
Any interested parties will be required to provide company information and proof of funds to comply with anti money laundering legislation.
Rateable Value -
The Valuation Office indicates a Rateable Value as of 1st April 2023 of £36,000 for the ground floor and £14,750 for the first floor. Rate in the £ for 23/24 is 49.9p
Energy Performance Rating -
2 - TBC
2A - D88
Viewing -
Strictly by appointment with the Sole Agents Duncan Bailey Kennedy:
Phillip Mawby / Tom Good / Adrian Dolan
phillipm@dbk.co.uk / tomg@dbk.co.uk / adriand@dbk.co.uk
01494 450951