Full Details
Location -
The premises are situated on the A4128 Cryers Hill Road approximately 2.5 miles north of High Wycombe town centre and approximately 2 miles south of Prestwood. The surrounding uses are predominantly residential although there is a school, convenience store and public house almost opposite and Binders Industrial Estate is located close by.
INVESTMENT SUMMARY
Shop Unit 1:
Tenant: Framing Gallery Limited
Term: 10 years
Commencement: 26th May 2021
Rent: £10,500 per annum.
Repair: Effectively full repairing and insuring
Break Clause: Rolling break provision by the tenant only on or after the fifth anniversary of the term commencement date.
Rent Review: Year 5, upwards only.
Security of Tenure: The lease is inside The Act.
Shop Unit 2:
Tenant: The Car Paint Company Limited
Term: 10 years
Commencement: 1st August 2016
Rent: £12,500 per annum.
Break Clause: Fifth anniversary of the term, with a minimum of six months prior
written notice.
Rent Review: Year 5, upwards only.
The two residential units were sold by way of 999 year ground leases where a peppercorn rent is payable They are effectively full repairing and insuring which is dealt with through an annual service charge for the maintenance and upkeep of the building as a whole.
Description -
This is a modern purpose built property constructed in the late 1980s and provides two retail units to the ground floor with two self-contained residential units above. There is a large tarmacked area to the side of the property providing parking for 10 vehicles. There are two small landscaped gardens to the rear of the building which are used by the flat occupants.
Accommodation -
The premises provide the following accommodation measured on a net internal area basis: -
Shop 1 - 55.00 m2 / 597 sq. ft.
Shop 2 - 68.00 m2 / 736 sq. ft.
We have not inspected the flats but understand that each of the flats provides two bedrooms, a living room, a kitchen and a bathroom.
Terms -
Our clients seek £425,000 for their freehold interest.
VAT is not applicable.
Rateable Value -
The VOA indicates a 1st April 2013 Rateable Value of £5,900 for shop 1 and £9,800 for shop 2. Rate in the £ for 25/26 is 49.9p
Energy Performance Rating -
Shop 1 - B49
Shop 2 - TBC
Unit 3 Flat - C-71
Unit 4 Flat - TBC
Viewing -
By appointment with the sole agents Duncan Bailey Kennedy LLP:
Tom Good / Phillip Mawby
tomg@dbk.co.uk / phillipm@dbk.co.uk
01494 450951