Freehold Retail and Residential Ground Rent Investment
Mixed commercial/residential main road location
Affluent London commuter town
Shop let to Coral Racing Limited on a lease expiring 2027
Minimum uplift in June 2021 to £20,415 per annum (1)
VAT-free investment
Lot 74
Auction 18th October 2018
Rent £18,144 per Annum Exclusive
Status Sold
Price £247,500
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles north-west of Beaconsfield
8 miles south-west of Amersham
28 miles north-west of Central London
Roads
A40, A404, M40 (Junctions 3 & 4)
Rail
High Wycombe Railway Station
Air
London Heathrow Airport
Situation
High Wycombe is an affluent London commuter town located 28 miles north-west of central London, 7 miles north-west of Beaconsfield and 1 mile north of the M40 motorway. The property is located in a mixed commercial/residential suburb 600 metres north-west of the town centre. Desborough Road is one of the main arterial routes into the town centre. The property is located on Desborough Road, close to its junction with Westbourne Street opposite the Guildmaster Court residential development. Nearby occupiers include a number of local traders.
Tenure
Freehold.
Location
Miles
7 miles north-west of Beaconsfield
8 miles south-west of Amersham
28 miles north-west of Central London
Roads
A40, A404, M40 (Junctions 3 & 4)
Rail
High Wycombe Railway Station
Air
London Heathrow Airport
Situation
High Wycombe is an affluent London commuter town located 28 miles north-west of central London, 7 miles north-west of Beaconsfield and 1 mile north of the M40 motorway. The property is located in a mixed commercial/residential suburb 600 metres north-west of the town centre. Desborough Road is one of the main arterial routes into the town centre. The property is located on Desborough Road, close to its junction with Westbourne Street opposite the Guildmaster Court residential development. Nearby occupiers include a number of local traders.
Tenure
Freehold.
Description
The property comprises a ground floor shop with a self contained two bedroom flat above.
VAT
VAT is not applicable to this lot.
EPC
D
Description
The property comprises a ground floor shop with a self contained two bedroom flat above.
VAT
VAT is not applicable to this lot.
EPC
D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Retail
100.94 sq m
(1,086 sq ft)
CORAL RACING LIMITED (2)
16 years from 28/02/2011 on a full repairing and insuring lease
£18,044
2021 (1) (minimum increase to £20,415 pa)
First
Residential
2 bedroom flat
INDIVIDUAL
99 years from 01/12/1994
£100
Every 33 years, rising to £150 pa in 2027 and £200 in 2060
Total
100.94 sq m
(1,086 sq ft)
£18,144
(1) The rent review in 2021 is to a minimum of 2.5% pa compounded annually (£20,415) or OMRV. (2) For the year ended 31st December 2016, Coral Racing Limited reported a turnover of £867,406,000, pre-tax profits of £91,174,000 and a net worth of £54,538,000 (Source:- Experian 17/09/2018). Coral trades from over 1,800 shops in the UK (Source:-www.coral.co.uk).
