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    Key features

    • To be offered on Tuesday 27 January
    • High Yielding Retail Investment
    • Ground Floor Retail Unit and Upper Parts
    • Let to Gelarto UK Limited
    • New 10 Year Lease Expiring 03.09.2035
    • 2,896 sq ft (269.05 sq m)
    • Prime Pedestrianised Pitch
    • Investment Let at £50,000 p.a. (11.9% GIY on Guide Price)

    Description

    The property comprises a high yielding retail investment occupying a prime pedestrianised pitch in the affluent town of Newbury.

    Arranged across ground, first and second floors, the ground floor is let to Gelarto UK LImited on a new 10 year lease expiring 03.09.2035 and paying £50,000 per annum. The lease includes a fixed uplift to £51,000 per annum in 2026.

    The upper parts are sold off on a 999 year long leasehold at an annual ground rent of a peppercorn.

    The property occupies a prime pitch fronting Northbrook Street, a pedestrianised, high footfall street comprising the principal retail amenity in Newbury. The street is characterised by a number of national retailers including Caffe Nero, Greggs and McDonalds. Parkway Shopping Centre is immediately to the rear of the property.

    Additional information

    Tenure

    Freehold

    Tenancy

    The property is let to Gelarto UK LImited on a new 10 year lease expiring 03.09.2035 and paying £50,000 per annum.


    The lease is on full repairing and insuring terms and includes a rent review and tenant break option in the fifth year. There is also a fixed rental uplift to £51,000 in 2026.


    The tenant is in the process of completing their fit-out and benefits from a rent free period until June 2026


    We understand a rent deposit of £15,000 is held.

    Rent

    £50,000 per annum
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      EPC rating

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      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.

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