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    Key features

    • Investment let at £38,223. p.a. (10.92% GIY on guide)
    • Mixed use retail and residential investment (2 x retail units & 2 x one beds)
    • Large car parking area with designated spaces for each tenant
    • An approx. 0.3 miles to Newbury Station

    Description

    Grade 2 listed property which comprises of two ground floor shops with two, one-bedroom flats above. The accommodation above the second shop has been sold off on a long leasehold interest. 

    To the rear of the property is a large car parking area with designated spaces for each tenant and adjoining flat holders of other premises also have the right to park on this yard, contributing towards the upkeep through a communal service charge.

    Along the south side of the property is an access strip which is presently leased from Railtrack.  It is the subject of an annual licence which has been in existence since 2004 and provides pedestrian access to the rear car park.

    Additional information

    Tenure

    Freehold

    Tenancy

    Residential above 61 sold off LLH (assume peppercorn rent)

    • 61– Let to Salon – April 2023 for a term of 5 years – Break in April 2026 – IRI outside the 54 ACT - £8,500 per annum
    • 60 Let to Convenience Store – March 2021 for a term of 10 years – Break and Rent Review in March 2026 – IRI inside the 54 Act - £17,000 per annum
    • 60A – First Floor – Let on an AST producing £6,633 per annum
    • 60B – Second Floor – Let on an AST producing £5,914 per annum 
    • Flats 61A - E - Ground rent £175 p.a.
    • Four rear parking spaces (one assigned to each tenant)
    • Side alleyway providing pedestrian access to car park which is presently leased from Network Rail paying £5,520 inc VAT per annum

    Rent

    £38,223.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Transport

      Half a mile from Newbury station.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums