95 Northbrook Street
Newbury
Berkshire
RG14 1AA

Freehold Retail and Residential Opportunity

  • Comprises a shop with a separately accessed two bedroom maisonette above
  • To be let to Hays Travel Limited by way of Tenancy at Will (1)
  • Asset Management Opportunities including selling maisonette separately
  • Potential to obtain vacant possession of entire property or re-letting the shop to Hays Travel on regular protected tenancy (2)
  • Nearby occupiers include FatFace, Superdry, L'Occitane, Hotel Chocolat, Topshop, H&M, Boots the Chemist, Wilko, Pret A Manger, Vision Express and WHSmith
  • Lot
    23
  • Auction
    28/Oct/2020
  • Rent
    £3,750 per Month
  • Status
    Sold
  • Price*
    £440,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 95 Northbrook Street<br>Newbury<br>Berkshire<br>RG14 1AA
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
15 miles north-west of Basingstoke
17 miles west of Reading
Roads
A34, A339, M4
Rail
Newbury
Air
London Heathrow
Situation

Newbury is an affluent market town in Berkshire, approximately 15 miles north-west of Basingstoke. The property is located in a prime position on the west side of the pedestrianised Northbrook Street, close to Parkway Shopping Centre, with retailers including FatFace, Superdry, L'Occitane, Hotel Chocolat and H&M. Other nearby retailers on Northbrook Street include Boots the Chemist, Wilko, Pret A Manger, Vision Express and WHSmith.

Tenure

Freehold.

Description

The property comprises a ground floor shop with a self contained 2 bedroom maisonette on the first and second floors. The property benefits from a yard to the rear with parking spaces for 2 cars.

VAT

VAT is applicable to this lot.

EPC

Band E. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantRent p.a.x
Ground
First/Second
Retail/Ancillary
2 bed maisonette
103.90 sq m
-
(1,118 sq ft)
(-)
TCCT RETAIL
LIMITED (1)
£3,750 pcm (£45,000 pax
equivalent) (1) (2)
Total Commercial Area
103.90 sq m
(1,118 sq ft)  

(1) The entire property is let to TCCT Retail Limited (t/a Thomas Cook (in liquidation)). In October 2019, Hays Travel acquired the entire retail portfolio of 555 Thomas Cook shops. On 28th September 2020, KPMG acting in their capacity as special managers of TCCT Retail Limited (t/a Thomas Cook (in liquidation)), determined Hays Travel current licence to occupy and confirmed that they intended to disclaim the lease held by TCCT Retail Limited (in liquidation). Hays Travel have recently offered to occupy by way of a Tenancy at Will paying £3,750 pcm + VAT. The Seller accepted their offer on 5th October 2020 and Solicitors are instructed to complete the Tenancy at Will - please see legal pack.
(2) Hays Travel have simultaneously offered to take a formal tenancy of the ground floor only for a term of 10 years from completion, with a rent review and tenant only break option at year 5 at a commencing rent of £40,000 per annum exclusive, payable monthly. A 6 month rent free period has been proposed with a further 3 months rent free if the tenant break option is not exercised. The landlord would be obliged to repair and maintain the building in wind and water right condition with the tenant to keep the interior in good and tenantable condition, subject to a Schedule of Condition - please see legal pack.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    14.10.20
    File Size
    13 MB
    Login to View
  • Catalogue Page
    Updated Date
    07.10.20
    File Size
    5 MB
    View PDF
  • Site Plan
    Updated Date
    07.10.20
    File Size
    781 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
HRH Retail Second Floor, 25 Foubert’s Place
London
W1F 7QF
Andrew Hoffbrand 020 7908 7033andrew@hrhretail.com
Seller's Solicitors
Goodman Derrick LLP 10 St Bride St
London
EC4A 4AD
Dominic Whelan 020 7421 7983dwhelan@gdlaw.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now