51 HIGH STREET & ASKETT WORKS PRINCES RISBOROUGH BUCKS HP27 0AE FREEHOLD MIXED-USE INVESTMENT WITH YARD
TENANCIES The shop is let on FRI terms to SH Harrold (Holdings) Ltd trading as Chilton & Watson Opticians, for a term expiring December 2025 with reviews in December 2015 and 2020 and no tenant breaks, at £12,500 p.a.x. The tenant company was formed in 1937 and has a D&B credit recommendation of “confidence, low risk potential”. The workshop is let to 2 individuals trading as Camden Re-upholstery for a term expiring April 2019 at £6750 p.a.x. with a rent review in April 2017. The flat is ‘sold off’ on a 125 year lease at an annual ground rent of £100 p.a. and with a contribution to repairs and maintenance. TERMS
LOCATION The premises are located in a prime position in the town centre of Princes Risborough, approximately 6 miles north west of High Wycombe and 30 north west of London. DESCRIPTION Retail The ground floor unit is laid out as a retail optometrist with a floor area approximately 650 sq ft (60.4 sq m) of retail space and consulting room. Workshop Askett Works is accessed from the rear yard and is a self-contained, single storey building of approx. 894 sq ft (83 sq m). The Flat The first floor, 2 bedroom flat is sold off on a long lease. Yard The rear yard provides ample parking for the elements of the building and has potential for development subject to planning.
Offers are invited in excess of £275,000 for the freehold interest without the flat but with the benefit of the tenancies on the shop and the workshop, providing a net initial yield of circa 6.7%. LEGAL COSTS Both parties’ legal costs to be borne by the purchaser. EPC No EPC is provided as the property’s Grade II Listing precludes the need. VIEWING Strictly by appointment through the joint sole agents: Philip Marsh Philip Marsh Collins Deung Tel: 01494 680000
[email protected] Subject to Contract 07/15