Freehold Retail and Residential Ground Rent Investment
Shop let to mobile phone repair specialists (t/a ICrackedIt)
Lease expires November 2025 (3)
Includes four separately accessed flats above let on long leases
VAT-free investment
Close to Nicholsons Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco Express, Iceland Supermarket, Boots the Chemist, Superdrug, Mcdonald's, Greggs, Costa and a JD Wetherspoon
Freehold Retail and Residential Ground Rent Investment
Shop let to mobile phone repair specialists (t/a ICrackedIt)
Lease expires November 2025 (3)
Includes four separately accessed flats above let on long leases
VAT-free investment
Close to Nicholsons Shopping Centre
Nearby occupiers include Marks & Spencer, Tesco Express, Iceland Supermarket, Boots the Chemist, Superdrug, Mcdonald's, Greggs, Costa and a JD Wetherspoon
Lot 25
Auction 27th March 2024
Rent £13,000 per Annum Exclusive
Status Sold
Price £125,000
Sector High Street Retail/Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles south-east of Marlow, 12 miles north-east of Reading, 25 miles west of Central London
Roads
A308, A404, M4
Rail
Maidenhead Railway Station (Elizabeth Line and Overground)
Air
London Heathrow Airport
Situation
Maidenhead is a popular and affluent Berkshire market town which benefits from excellent communications, with the M4 motorway being less than two miles to the south and direct access into Central London via Elizabeth Line. The property is prominently situated on the north side of Queen Street, in the heart of the town centre, close to Nicholsons Shopping Centre. Nearby occupiers include Marks & Spencer, Tesco Express, Iceland Supermarket, Boots the Chemist, Superdrug, Mcdonald's, Greggs, Costa and a JD Wetherspoon.
Tenure
Freehold.
Location
Miles
4 miles south-east of Marlow, 12 miles north-east of Reading, 25 miles west of Central London
Roads
A308, A404, M4
Rail
Maidenhead Railway Station (Elizabeth Line and Overground)
Air
London Heathrow Airport
Situation
Maidenhead is a popular and affluent Berkshire market town which benefits from excellent communications, with the M4 motorway being less than two miles to the south and direct access into Central London via Elizabeth Line. The property is prominently situated on the north side of Queen Street, in the heart of the town centre, close to Nicholsons Shopping Centre. Nearby occupiers include Marks & Spencer, Tesco Express, Iceland Supermarket, Boots the Chemist, Superdrug, Mcdonald's, Greggs, Costa and a JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a shop arranged on part of the ground floor with four separately accessed flats arranged on basement, part ground, first and second floors, let on long leases.
VAT
VAT is not applicable to this lot.
Note
Notices pursuant to Section 5b of the Landlord and Tenant Act 1987 have been served to the residential lessees. No acceptance notices have been received from the tenants within the permitted period and therefore the tenants are not able to exercise the right of pre-emption on this sale.
Completion Period
Six Week Completion
EPC
Band B
Description
The property comprises a shop arranged on part of the ground floor with four separately accessed flats arranged on basement, part ground, first and second floors, let on long leases.
VAT
VAT is not applicable to this lot.
Note
Notices pursuant to Section 5b of the Landlord and Tenant Act 1987 have been served to the residential lessees. No acceptance notices have been received from the tenants within the permitted period and therefore the tenants are not able to exercise the right of pre-emption on this sale.
Completion Period
Six Week Completion
EPC
Band B
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas (Approx sq ft) (1)
Tenant
Term
Rent p.a.x.
Rent Review
Part Ground
Retail/Ancillary
20.33
(218)
IFUSIONIT LTD (2) (t/a icrackedit)
6 years from 28/11/2019 (3)
£12,000
28/11/2024
Basement (Flat 1)
Residential
-
-
TWO INDIVIDUALS
125 years from 24/06/2018
£250 rising to £500 in June 2043 with further increases every 25 years
24/06/2043 and 25-yearly thereafter
Ground (Flat 2)
Residential
-
-
AN INDIVIDUAL
125 years from 24/06/2018
£250 rising to £500 in June 2043 with further increases every 25 years
24/06/2043 and 25-yearly thereafter
First (Flat 3)
Residential
-
-
TWO INDIVIDUALS
125 years from 26/06/2019
£250
-
Second (Flat 4)
Residential
-
-
AN INDIVIDUAL
125 years from 24/06/2018
£250 rising to £500 in June 2043 with further increases every 25 years
24/06/2043 and 25-yearly thereafter
Total Commercial Area
20.33
(218)
£13,000
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) The tenant are Apple Certified Technicians that specialise in repairing Apple smartphones, tablets and laptops (www.icracked-it.com) (3) The lease is subject to a tenant only option to determine at anytime on 12 months notice.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
