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Floorplan
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    Key features

    • To be offered on Wednesday 30 September
    • A freehold mid terrace property an approx. 1,917 sq ft over 3 floor
    • Asset management potential to improve the passing rent via section 25 notice
    • Section 25 notice served increasing the rent to £28,500 p.a.
    • Tenant has been in occupation since 2007 (currently holding over)
    • Development potential to convert the upper floors into a number of dwellings (subject to the requisite consents)
    • Tenant has confirmed they wish to remain at the property (Please refer to tenancy)
    • Car parking to the rear
    • VAT free investment
    • 6 week completion available
    • Investment let at £18,250 p.a. (9.35% GIY on guide price or 14.61% on GIY subject to the new rent being agreed)

    Description

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    A freehold mid-terrace commercial investment extending to approximately 1,917 sq ft over three floors. The property is let to Countrywide Estate Agents Limited (TA Taylors), who have occupied the premises since 2007 and are currently holding over.

    A Section 25 Notice has been served proposing a new 10-year lease at £28,500 per annum, offering significant asset management potential from the current rent of £18,250 per annum.

    The property benefits from rear car parking, VAT-free status and longer-term potential to convert the upper floors to residential accommodation, subject to the requisite consents.

    Nearby national occupiers include Costa Coffee, Tesco Express, Boots and the Post Office as wall a wide range of local and boutique retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please refer to the floor plan

    An approx. 1,917 sq ft

    Tenancy

    36 High Street

    • Countrywide Estate Agents Limited (TA Taylors)
    • Let on a 10 year FR&I lease from 2007 (tenant currently holding over)
    • 25 Notice has been served proposing a new 10-year lease at £28,500 per annum
    • Investment let at £18,250 p.a.

    The vendor has confirmed that tenants solicitor has written to confirm they want to stay in the premises. A copy of this will be provided to the successful bidder.

    Rent

    £18,250 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.

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      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

      The property occupies a prominent position on the High Street in the affluent market town of Stony Stratford, approximately 5 miles north-west of Milton Keynes. The town benefits from a strong mix of national and independent retailers, cafés, restaurants and local amenities, attracting consistent footfall throughout the day. Nearby occupiers include Costa Coffee, Tesco Express, Boots and the Post Office, together with a variety of established local businesses.

      Transport

      The property is well located with access to the regional road network via the A5, providing links to Milton Keynes, Towcester and the M1 motorway. Milton Keynes Central Station is approximately 5 miles to the south-east and provides regular services to London Euston, Birmingham and other major UK destinations.

      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.

      •Some properties might be open to offers prior to auction. Exchange will take place, subject to contract and no higher offers, on auction terms and as per the legal pack. Please contact the auctioneer with your best and final offer, their details can be found on each lot page.

      •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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