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Status Withdrawn Post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
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.
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.
Contacts
Seller's Solicitors
Fladgate Fielder 16 Great Queen Street London WC2B 5DG
