December 2022: Wednesday 14 December 2022 - 9:00am
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    Key features

    • Investment let at £22,000 p.a. (8.8% GIY on Guide)
    • Let on 20 Year FR&I lease from 01/12/2014 (Reversion 2034) No Tenant breaks
    • Future development potential to self contain the upper floor flat (subject to the requisite consents)
    • Open Market rent reviews on the rolling every 4 years
    • Current tenant has been trading from the site for an approx. 20 years
    • VAT free investment
    • 8 Week completion

    Description

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    A 3 storey mid terrace property forming part of an established shopping parade.

    The property comprises of commercial space over basement and ground floor with a yard/garden to the rear. A flat is situated over the 1st and 2nd floor which also has access to large roof terrace on the second floor.

    Nearby occupiers include Sainsburys, Vue Cinema as well as a wide range of other independent restaurants, pubs and retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the floor areas have been provided by a third party and the property has not been inspected by Savills


    Basement - Storage space

    Ground Floor - Retail space, Kitchen, WC, Rear yard/garden

    First Floor - Kitchen, Reception, Bedroom

    Second Floor - Bedroom, Bathroom, WC and Roof Terrace


    Garden at rear - An Approx. 39.6 sqm (426 sq ft)

    Basement - An approx. 17.27 sqm (186 sq ft)

    Ground Floor- An approx. 62.24 sqm (670 sq ft)

    First Floor - An Approx. 57.32 sqm (617 sq ft)

    Second Floor - An Approx. 31.3 sqm (337 sq ft) roof terrace 30.8 sqm (331 sq ft)


    An Approx. Total GIA 168 SQM (1810 sq ft)


    Tenancy

    60 Cheap Street

    • Entire Property (Ground floor commercial and flat upstairs) let to a private individual T/A Mr India
    • Let on 20 year lease from 01/12/2014 (Reversion 2034)
    • No tenant breaks
    • FR&I lease
    • Rent reviews every 4 years (Rolling)
    • Investment let at £22,000 p.a.

    Rent

    £22,000 p.a.

    Notes

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

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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 a Market Town located in West Berkshire.

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

      Newbury Station is located an approx. 0.2 miles from the property

      Transport

      Newbury Station - National Rail Services to London Paddington, Reading, Exeter and Plymouth.

      Legal documents

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      EPC rating

      The EPC rating for this property is C

      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