Freehold Retail and Residential Ground Rent Investment
Comprises 4 x retail units let on recent 10 year leases (subject to option) and 8 residential flats
Affluent and historic Cotswold town
Opposite the 233 space Waterloo Car Park and some 50 metres from Woolmarket Shopping Centre
Designated on-site car parking
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 49
Auction 19th May 2016
Rent
Status Sold
Price £700,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
16 miles south-east of Cheltenham, 34 miles west of Oxford, 35 miles north-east of Bristol
Roads
A417, A419, A433, M4, M5
Air
Bristol Airport
Situation
Cirencester is an affluent and historic Cotswold town situated some 16 miles south-east of Cheltenham. The property is situated on the south side of The Waterloo, opposite the 233 space Waterloo Public Car Park and some 50 metres east of the Woolmarket Shopping Centre with access to Market Place and Dyer Street.
Tenure
Freehold.
Location
Miles
16 miles south-east of Cheltenham, 34 miles west of Oxford, 35 miles north-east of Bristol
Roads
A417, A419, A433, M4, M5
Air
Bristol Airport
Situation
Cirencester is an affluent and historic Cotswold town situated some 16 miles south-east of Cheltenham. The property is situated on the south side of The Waterloo, opposite the 233 space Waterloo Public Car Park and some 50 metres east of the Woolmarket Shopping Centre with access to Market Place and Dyer Street.
Tenure
Freehold.
Description
The property comprises four retail units on the ground floor with 8 residential flats on the first and second floors accessed from the front of the property. The property further benefits from rear and side car parking.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises four retail units on the ground floor with 8 residential flats on the first and second floors accessed from the front of the property. The property further benefits from rear and side car parking.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit No.
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review (Reversion)
1
Ground
Financial & Professional Services (A2)/ Ancillary
96.80 sq m
(1,042 sq ft)
KELSOON LTD t/a CJ Hole Estate Agents (1)
10 years from 17/04/2015 (2)
£17,300
17/04/2020 (16/04/2025)
2
Ground
Retail/Ancillary
96.80 sq m
(1,042 sq ft)
VOGA INTERIORS LIMITED
10 years from 04/01/2016 (3)
£17,300
04/01/2021 (03/01/2026)
3
Ground
Retail/Ancillary
89.83 sq m
(967 sq ft)
WINNENS 1929 LIMITED
10 years from 08/04/2016 (4)
£17,300 (5)
08/04/2021 (07/04/2026)
4
Ground
Retail/Ancillary
89.83 sq m
(967 sq ft)
INDIVIDUAL t/a Secret Beautique
10 years from 10/07/2015 (6)
£17,300
10/07/2020 (09/07/2025)
Apartments 1 to 8
First and Second
Residential
8 x 2 bedroom flats
INDIVIDUALS
125 years from 1st January 2014 (7)
£2,400
(31/12/2138)
Total Commercial Floor Area
373.26 sq m (4,018 sq ft)
£71,600
(1) Kelsoon LTD was incorporated in 2003. CJ Hole was founded in 1867 and is an independently owned estate agency franchise serving the south-west, extending to over 250 offices operating under 5 established brand names nationwide (Source: www.cjhole.co.uk). (2) The lease provides for a tenant option to determine the lease on 17th April 2020. (3) The lease provides for a tenant option to determine the lease on 4th January 2021. (4) The lease provides for a tenant option to determine the lease on 8th April 2021. (5) For the purpose of clarification, Winnens 1929 Limited will benefit from a 4 month rent free period from completion of the lease. The seller has agreed to adjust the completion monies so that the unit will effectively produce £17,300 p.a.x. from completion of the sale. (6) The lease provides for a tenant option to determine the lease on 10th July 2020. (7) The seller has served a notice on the qualifying residential tenants pursuant to Section 5b of the Landlord and Tenant Act 1987.