Freehold Retail Investment with Development Potential
Let to Blacks Outdoor Retail Limited (t/a Millets) – part of JD Sports Fashion Plc
Vacant possession on upper floors with residential development potential (see Planning Paragraph below)
Attractive market town in the Chiltern Hills
Nearby occupiers include Boots, Superdrug, M&Co, Costa, and Waterstones
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 19
Auction 16th February 2017
Rent
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles south-east of Aylesbury, 25 miles north-west of London
Roads
M25, M4, M40, M1
Rail
Chesham Underground station (Metropolitan Line)
Air
London Heathrow Airport, London Luton Airport
Situation
Chesham is an attractive Buckinghamshire market town situated on the south side of the Chiltern Hills. The property is located in a prominent trading position on the north side of the pedestrianised
High Street, close to the junction with Station Road. Nearby occupiers include, Boots, Superdrug, M&Co, Costa and Waterstones as well as being in close proximity to Sainsbury's and Waitrose.
Tenure
Freehold.
Location
Miles
11 miles south-east of Aylesbury, 25 miles north-west of London
Roads
M25, M4, M40, M1
Rail
Chesham Underground station (Metropolitan Line)
Air
London Heathrow Airport, London Luton Airport
Situation
Chesham is an attractive Buckinghamshire market town situated on the south side of the Chiltern Hills. The property is located in a prominent trading position on the north side of the pedestrianised
High Street, close to the junction with Station Road. Nearby occupiers include, Boots, Superdrug, M&Co, Costa and Waterstones as well as being in close proximity to Sainsbury's and Waitrose.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with self-contained office accommodation at first and second floors accessed via High Street. The property benefits from rear access via East Street which provides delivery access and car parking for approximately 4 cars.
VAT
VAT is applicable to this lot.
Planning
Permitted Development consent was granted in January 2014 for for change of use from office (B1(A)) to two residential units (Use Class 3) of the first and second floors (Ref: CH/2013/1968/PNO). This planning permission lapsed on 30th May 2016. On 6th January 2017 the Seller submitted Prior Notification Under Class O Of Part 3, Schdeule 2 Of The Town and Country Planning (General Permitted Development) (ENGLAND) Oder 2015 - Change Of Use From Office (Use Class B1(a)) To Two Residential Units (Use C3) and is currently awaiting a decision. Please refer to Chiltern District Council Planning for more information (Ref: CH/2017/0024/PNO).
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with self-contained office accommodation at first and second floors accessed via High Street. The property benefits from rear access via East Street which provides delivery access and car parking for approximately 4 cars.
VAT
VAT is applicable to this lot.
Planning
Permitted Development consent was granted in January 2014 for for change of use from office (B1(A)) to two residential units (Use Class 3) of the first and second floors (Ref: CH/2013/1968/PNO). This planning permission lapsed on 30th May 2016. On 6th January 2017 the Seller submitted Prior Notification Under Class O Of Part 3, Schdeule 2 Of The Town and Country Planning (General Permitted Development) (ENGLAND) Oder 2015 - Change Of Use From Office (Use Class B1(a)) To Two Residential Units (Use C3) and is currently awaiting a decision. Please refer to Chiltern District Council Planning for more information (Ref: CH/2017/0024/PNO).
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground
Retail
195.83 sq m
(2,108 sq ft)
BLACKS OUTDOOR RETAIL LIMITED (1) T/A MILLETS
5 years from 01/05/2013
£30,000
30/04/2018
First Second
Office Office
68.46 sq m 68.46 sq m
(737 sq ft) (737 sq ft)
VACANT POSSESSION (SEE PLANNING PARAGRAPH)
Total
332.75 sq m
(3,582 sq ft)
£30,000
(1) Blacks Outdoor Retail Limited is a subsidiary (and part of The Outdoor Division) of JD Sports Fashion plc, currently trading from around 80 Millets and 74 Blacks stores. (Source: www.jdplc.com and www.millets.co.uk 18/01/2017).