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Sold
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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.
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