Parkfield House, 197 / 205 High Street Crowthorne Berkshire RG45 7AQ

Parkfield House, 197 / 205 High Street
Crowthorne
Berkshire
RG45 7AQ

Freehold Retail & Residential Ground Rent Investment

Prominent corner freehold
Affluent commuter town
Comprises 5 shops of which 2 let on long leases
17 flats let on long leases at a ground rent
Units 203 & 205 to be let on a new 5 year lease from 25/11/2019 (1)

Lot
39
Auction
11th December 2019
Rent
£39,750 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of a Major Fund Manager

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Freehold Retail & Residential Ground Rent Investment

Prominent corner freehold
Affluent commuter town
Comprises 5 shops of which 2 let on long leases
17 flats let on long leases at a ground rent
Units 203 & 205 to be let on a new 5 year lease from 25/11/2019 (1)

Lot 39
Auction 11th December 2019
Rent £39,750 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of a Major Fund Manager

Property Information

Location

Miles: 2 miles north of Camberley; 4 miles south of Wokingham; 4 miles south-west of Bracknell
Roads: A312, A3095, M3, M4
Rail: Crowthorne Railway (approx 55 minutes to London Paddington via Reading)
Air: London Heathrow & Gatwick Airports

Situation

Crowthorne is an affluent commuter town on the Surrey/Berkshire border, 4 miles south-west of Bracknell, 2 miles north of Camberley and 3 miles north of the M3. The property is in the town centre, in a prominent location at the junction of High Street and Cambridge Road. Nearby occupiers include Co-op, Costa and Lidl, amongst a number of local traders.

Tenure

Freehold.

Location

Miles: 2 miles north of Camberley; 4 miles south of Wokingham; 4 miles south-west of Bracknell
Roads: A312, A3095, M3, M4
Rail: Crowthorne Railway (approx 55 minutes to London Paddington via Reading)
Air: London Heathrow & Gatwick Airports

Situation

Tenure

Freehold.

Description

The property comprises 5 ground floor shops with 17 flats above. Two of the shops and all the flats have been let on separate long leases.

VAT

VAT is applicable to this lot.

Note

The seller has served notice pursuant to section 5B of the Landlord & Tenant Act 1987 on the residential tenants.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk

Description

The property comprises 5 ground floor shops with 17 flats above. Two of the shops and all the flats have been let on separate long leases.

VAT

VAT is applicable to this lot.

Note

The seller has served notice pursuant to section 5B of the Landlord & Tenant Act 1987 on the residential tenants.

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
201 High Street	Ground	Retail	41 sq m	(445 sq ft)	KHURANA RETAIL SHOP LIMITED (2) t/a Mr Wireless	10 years from 03/04/2018 expiring 03/03/2028 (2)	£17,500	03/04/2023
203 & 205 High Street	Ground	Retail	84 sq m	(914 sq ft)	INDIVIDUALS t/a Re-flection (1)	5 years from 25/11/2019 (1)	£18,000 (1)	(24/11/2024) (1)
197 & 199 High Street	Ground	Retail			INDIVIDUALS t/a Zappas	201 years from 01/01/2004	Peppercorn	(12/07/2205)
Flats 1-17	First & Second floors	Residential	17 flats		VARIOUS	Each flat - 199 years from 01/01/2004	£4,250 (£250 per flat)	(01/01/2203)
Total 201, 203 & 205 High Street			125 sq m	(1,359 sq ft)			£39,750

(1) Terms for a new 5 year lease at £18,000 per annum with an option to determine in the 5th year have been agreed and are currently in solicitors hands, due to complete imminently. The tenant will have a 6 month rent free period. The Seller will adjust completion monies so that the unit effectively produces £18,000 per annum from completion of the sale. Option to determine 24/11/2022.
(2) Option to determine 03/04/2023

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.