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    Key features

    • To be offered on Wednesday 23 July
    • Freehold Grade II listed Restaurant and Residential Ground Rent Investment
    • Restaurant let to Pizza Express on a lease expiring 2028
    • Well located in the town centre close to national occupiers
    • Restaurant benefits from a rear terrace providing additional covers
    • VAT is applicable
    • Investment let at £34,200 p.a. (reflecting 9.12% GIY on Guide Price)

    Description

    The Grade II listed property is arranged over ground and first floor to provide a ground floor restaurant with a self-contained flat above.

    The flat above have been sold off on a long lease

    The property benefits from a rear terrace, providing additional covers for the restaurant.

    Additional information

    Tenure

    Freehold


    There is a licence in place providing an escape route over the land to the rear of the property in case of an emergency. The licenece is for a term of 25 years +1 day from March 2003. The licence fee in March 2024 was £2,459.65

    Accommodation

    Ground Floor Restaurant - 216.40 sq m (2,329 sq ft)

    First Floor Flat (Sold off) - 170,00 sq m (1,830 sq ft)

    Total - 386.40 sq m (4,159 sq ft)


    Please see the below schedule of accommodation and tenancies

    Tenancy

    Ground Floor is let to Pizza Express (Restaurants) Limited for a term of 25 years from March 2003.


    D&B Rating - O3


    About the tenant;


    PizzaExpress is a British multinational pizza restaurant chain founded in 1965 by Peter Boizot.

    The company has grown to have over 360 pizzerias in the UK and Ireland, and has also expanded internationally (source: Pizza Express). 

    Rent

    £34,200 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 enquiries in 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.

      Accommodation / Tenancy Schedule

      Local information

      Wallingford is a market town located on the River Thames some 12 miles south of Oxford and 14 miles north of Reading.

      The property is located within the town centre on the west side of St Mary's Street, opposite St Mary-le-More Church

      Local occupiers include: Boots, Nationwide Building Society and Greggs amongst many others.

      Transport

      Road - The M40 Motorway is to the north, the M4 Motorway to the south and the A34 to the west.

      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