October 2022: Tuesday 04 October 2022 - 9:00am
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • Investment let at £45,000 p.a.
    • Let on a new 10 year lease from 01/06/2022
    • Tenant has fitted out to a high specification
    • Located in the centre of Newbury on a semi/pedestrianised street
    • Possible future development potential to convert the upper floors into residential use (subject to the existing tenancy and requisite consents)
    • 6 week completion

    Description

    An attractive end of terrace property comprising of 3 stories in height and forming part of an established shopping parade in the centre of Newbury.

    The property is let in its entirety to one tenant and is operating as a Restaurant/Café/Bar; seating and service areas are on ground and first floor while ancillary accommodation is located on the 2nd floor.

    Nearby occupiers include M&S (adjacent), Tesco Metro, Pret a Manger, Boots, WHSmith, Poundland, Superdrug, Greggs as well a range of boutique and independent retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note that the areas have been taken from the VOA/provided by the client and the property has not been inspected by Savills.


    Ground - 97.7 sq m (1,051,sqft)

    First - 95.04sq m (1,023 sq ft)

    Second - 29.95 sq m (322 sq ft)


    Total Area - 222.69 sq m (2,397 sq ft)


    Tenancy

    21 Northbrook Street

    • Tenant The Baker's Jazz Bar Limited (T/A The Bakers Lounge Bar)
    • Let on 10 year lease from 01/06/2022
    • The tenant will pay a half rent of £22,500 from 1st September 2022 to the 1st March 2023 (equating to £11,250 during this period)
    • Rent review on the 5th anniversary; open market upwards only
    • Tenant break option 5th anniversary
    • Rental deposit of £27,000 held on account
    • Investment let at £45,000 p.a.

    Rent

    £45,000 p.a.

    Notes

    Please note the site areas provided are approximate. The photos and Red 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.

    VAT is applicable to this lot; We have been advised that the sale can be treated as a TOGC please refer to the legal pack.

      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      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. 0.5 miles from the property


      Transport

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

      Legal documents

      Login to view legal documents

      EPC rating

      The EPC rating for this property is E

      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