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    Key features

    • Let to Esquires Coffee (UK) Limited
    • 10 Years from 10.05.2024(1)
    • Pedestrianised Town Centre Location
    • The property has been well fitted out to a high standard
    • Possible future development potential to convert the upper floors into residential use (subject to the existing tenancy and all the necessary consents)
    • Six Week Completion Available
    • Investment Let at £52,000 p.a. (11.55% GIY on Guide Price)

    Description

    The property comprises an attractive three storey end of terrace property which forms part of an established shopping parade in the centre of Newbury.

    The property is entirely let to one tenant and is operating as a Restaurant/Café with seating and service areas on the ground and first floors whilst ancillary accommodation is located on the 2nd floor.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground - 97.7 sq m (1,051,sqft)

    First - 95.04sq m (1,023 sq ft)

    Second - 29.95 sq m (322 sq ft)


    Total Area - 222.69 sq m (2,397 sq ft)

    Tenancy

    • Entirely Let to Esquires Coffee (UK) Limited
    • 10 Years from 10.05.2024
    • Rent review at the end of the 5th year
    • Tenant's option to break 10.05.2030 (1)
    • A rent deposit of £13,000 plus a sum equivalent to VAT is held.

    Planning

    The upper floors have the potential for future redevelopment into residential use (subject to the existing tenancy and all the necessary consents). All enquiries should be mede with the local authority:

    West Berkshire

    Rent

    £52,000 p.a.

    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 enquiriesin this regard. Please refer to the legal pack.

    Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      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

      Newbury is an attractive and prosperous Berkshire market town located 14 miles west of Reading and 50 miles west of London

      The property is located on the junction of Northbrook Street and Jack Street (a pedestrian cut through)

      Occupiers close by include Mark & Spencer (adjacent), Robert Dyas (opposite), Tesco Express, Boots, Caffe Nero, HSBC, Pret A Manger and a number of national and local traders

      Transport

      The town is served by the A339 and A34, which provide access to the M4 Motorway (Junction 13) 3 miles to the north

      Newbury Station provides frequent services to London Paddington (46 minutes), Reading, Exeter and Plymouth.

      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