retail property investment
52 HIGH STREET, PRINCES RISBOROUGH Buckinghamshire, HP27 0AX
INVESTMENT SUMMARY
RETAIL PROPERTY INVESTMENT FREEHOLD FOR SALE
Prime covenant let to Lloyds Pharmacy Ltd (part of multinational Celesio Group). Rent receivable £17,000 per annum exclusive. th 10 year lease commencing 25 March 2015 with tenants th break option 25 March 2020. Attractive ground floor retail premises with first floor residential accommodation (occupied by the tenants as ancillary office storage and staff facilities).
LOCATION
Occupying a prime location within the centre of the attractive Market Town of Princes Risborough at the foot of the Chiltern Hills Area of Outstanding Natural Beauty. Princes Risborough is roughly midway between Aylesbury and High Wycombe and is well located for easy access to the M40 motorway (Junction 6 c.7 miles). The town also has the benefit of a mainline railway station operated by the award winning Chiltern Line between London (Marylebone) and Birmingham (Snow Hill). The premises occupy a centrally located prime position within the attractive town of Princes Risborough. The town has a range of local/independent retailers, pubs and restaurants together with several multiple retailers including M&S Simply Food and Costa Coffee.
DESCRIPTION
Ground floor retail premises with a net floor area of 732 sq ft net including dispensary. The first floor residential accommodation totals c.570 sq ft net (currently used as ancillary storage, office and staff facilities allied to the ground floor shop).
LEASE TERMS
th
The lease is for a 10 year term expiring 24 March 2025 upon standard tenant’s fully repairing and insuring basis. In addition the tenant is responsible for the payment of rent, business rates, insurance rent and all other property related outgoings. The lease provides for a tenant’s break option as at 25 March 2020 subject to a minimum 6 months prior written notice.
RENT
The current rent is £17,000 per annum exclusive due for rent review as at 25 March 2020.
BUSINESS RATES
The rateable value is currently listed as £14,500. The lease provides that the tenant is responsible for the payment of business rates. agents.
PRICE
Offers invited in excess of £250,000 for the freehold interest, subject to the lease to Lloyds Pharmacy Ltd.
EPC
Commercial EPC for the combined ground and first floor, shop and upper floor Rating E (105) – EPC is available on request.
LEGAL COSTS
Each party to be responsible for their own legal and other costs.
VIEWING
For further information and viewing which is to be strictly by prior appointment contact the sole agents: Brown & Lee Chartered Surveyors Tel: (01296) 420637 [email protected]
Services: We have not tested any of the service installations and any prospective purchaser/ tenant must satisfy themselves independently as to the state and condition thereof. (11.02.16)
INVESTMENT SUMMARY
RETAIL PROPERTY INVESTMENT FREEHOLD FOR SALE
Prime covenant let to Lloyds Pharmacy Ltd (part of multinational Celesio Group). Rent receivable £17,000 per annum exclusive. th 10 year lease commencing 25 March 2015 with tenants th break option 25 March 2020. Attractive ground floor retail premises with first floor residential accommodation (occupied by the tenants as ancillary office storage and staff facilities).
LOCATION
Occupying a prime location within the centre of the attractive Market Town of Princes Risborough at the foot of the Chiltern Hills Area of Outstanding Natural Beauty. Princes Risborough is roughly midway between Aylesbury and High Wycombe and is well located for easy access to the M40 motorway (Junction 6 c.7 miles). The town also has the benefit of a mainline railway station operated by the award winning Chiltern Line between London (Marylebone) and Birmingham (Snow Hill). The premises occupy a centrally located prime position within the attractive town of Princes Risborough. The town has a range of local/independent retailers, pubs and restaurants together with several multiple retailers including M&S Simply Food and Costa Coffee.
DESCRIPTION
Ground floor retail premises with a net floor area of 732 sq ft net including dispensary. The first floor residential accommodation totals c.570 sq ft net (currently used as ancillary storage, office and staff facilities allied to the ground floor shop).
LEASE TERMS
th
The lease is for a 10 year term expiring 24 March 2025 upon standard tenant’s fully repairing and insuring basis. In addition the tenant is responsible for the payment of rent, business rates, insurance rent and all other property related outgoings. The lease provides for a tenant’s break option as at 25 March 2020 subject to a minimum 6 months prior written notice.
RENT
The current rent is £17,000 per annum exclusive due for rent review as at 25 March 2020.
BUSINESS RATES
The rateable value is currently listed as £14,500. The lease provides that the tenant is responsible for the payment of business rates. agents.
PRICE
Offers invited in excess of £250,000 for the freehold interest, subject to the lease to Lloyds Pharmacy Ltd.
EPC
Commercial EPC for the combined ground and first floor, shop and upper floor Rating E (105) – EPC is available on request.
LEGAL COSTS
Each party to be responsible for their own legal and other costs.
VIEWING
For further information and viewing which is to be strictly by prior appointment contact the sole agents: Brown & Lee Chartered Surveyors Tel: (01296) 420637 [email protected]
Services: We have not tested any of the service installations and any prospective purchaser/ tenant must satisfy themselves independently as to the state and condition thereof. (11.02.16)
