24 Duke Street
Henley-on-Thames
Oxfordshire
RG9 1UP

Freehold Retail and Residential Ground Rent Investment

  • Shops let to Space NK Limited and Sue Ryder
  • Shops let on 10 year lease renewals from 2020 (Subject to options)
  • Recently Developed Residential above let on long leases
  • Prominent Town Centre trading position close to Bell Street, Market Place and Hart Street
  • Nearby occupiers include Joules, Mint Velvet, Harris + Hoole, Costa Coffee and COOK
  • Affluent and popular Oxfordshire market town
  • Lot
    9
  • Auction
    24/Sep/2021
  • Rent
    £93,635 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,300,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 24 Duke Street, Henley-on-Thames, Oxfordshire, RG9 1UP
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  • Photos
  • Map

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

Property Information

Location
Miles
8 miles north-east of Reading, 23 miles south-east of Oxford
Roads
A4, A404, A4130, M4, M40
Rail
Henley-on-Thames Railway Station
Air
Heathrow Airport
Situation

The property is situated in a prominent trading location on the west side of Duke Street, south of its junction with Market Place, Bell Street and Hart Street, in the heart of Henley-on-Thames town centre. Nearby occupiers include Joules, Mint Velvet, Harris + Hoole, Costa Coffee & COOK, with Waitrose, Boots the Chemist, Crew, JoJo Maman Bebe, Wistles and White Stuff also represented in the town. Greys Road Public Car Park is located to the rear of the property, providing car parking for over 140 cars. Henley-on-Thames Railway Station is located a short walk away.

Tenure

Freehold.

Description

The property comprises two shops each arranged on the ground floor, with residential accommodation on the uppers floors let on long leases. The shops have direct access to the rear onto Tuns Lane.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
GroundRetail/Ancillary
117.17 sq m
(1,261 sq ft)
SPACE NK
LIMITED (2)
10 years from 29/09/2020
until 28/09/2030 (3)
£44,000
GroundRetail/Ancillary
144.80 sq m
(1,558 sq ft)
SUE RYDER (4)10 years from 05/03/2020
until 04/03/2030 (5)
£47,000
First/SecondResidential
5 flats
VARIOUS125 years each from 2021£1,375 (subject
to review)
First/SecondResidential
5 flats
LTC GROUP
LIMITED
125 years each from
completion
£1,260 (subject
to review)
Total Commercial Area
261.97 sq m
(2,819 sq ft)(1)  £93,635

(1) Floor areas provided by the Valuation Office Agency (www.gov.uk)
(2) For the year ending 28th March 2020, Space NK Limited reported a turnover of £125,710,067, a pre-tax profit of £3,407,415 and shareholders funds of £35,091,117 (Source: NorthRow 01/09/2021). Space NK was founded in 1991, today there are 72 stores across the UK and Ireland and a further 29 in the US (www.spacenk.com/uk 01/09/2021).
(3) The lease provides for a tenant option to determine the lease on 28/09/2025 subject to 6 months' written notice. If the break is not exercised the tenant will benefit from a 3 month rent free period.
(4) For the year ending 31st March 2020 Sue Ryder reported a turnover of £112,017,000, a pre-tax profit of £48,667,000 and shareholder funds of £53,822,000 (Source: NorthRow 01/09/2021).
(5) The lease provides for a tenant option to determine the lease on 04/03/2025 subject to 6 months' written notice. If the break is not exercised the tenant will benefit from a 3 month rent free period.

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
    13.09.21
    File Size
    18 MB
    Login to View
  • Catalogue Page
    Updated Date
    03.09.21
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    733 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Seller's Solicitors
Berlad Graham LLP Boundary House, Cricket Field Road
Uxbridge
UB8 1QG
Jack Grunhut 020 3325 8171jg@bglaw.co.uk

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