Freehold Retail and Office Investment (with Planning Consent for change of use of Upper Parts to Residential)
Ground floor tenants trading as Thames Hospice Care, NHS Pharmacy and Sarai Hair & Beauty
Self-contained offices above with Vacant Possession (approx. 6,000 sq ft)
Recent planning consent for change of use from offices to residential
Nearby occupiers include Barclays Bank, Co-Operative Food, Costa and Lidl
Affluent Berkshire commuter town
Lot 43
Auction 9th July 2014
Rent £49,750 per Annum Exclusive
Status Sold Post
Price
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4 miles south-west of Bracknell, 17 miles north-west of Guildford
Roads
A322, A331, A329 (M), M3, M4
Rail
Crowthorne Rail Station
Air
Heathrow Airport
Situation
The property is situated on the west side of High Street, the town’s principal retailing thoroughfare, close to its junction with Heath Hill Road South. Other nearby retailers include Co-Operative Food, Costa and Lidl. Crowthorne Library is also located nearby.
Tenure
Freehold.
Location
Miles
4 miles south-west of Bracknell, 17 miles north-west of Guildford
Roads
A322, A331, A329 (M), M3, M4
Rail
Crowthorne Rail Station
Air
Heathrow Airport
Situation
The property is situated on the west side of High Street, the town’s principal retailing thoroughfare, close to its junction with Heath Hill Road South. Other nearby retailers include Co-Operative Food, Costa and Lidl. Crowthorne Library is also located nearby.
Tenure
Freehold.
Description
The property comprises retail accommodation on the ground floor (a charity shop, pharmacy and beauty salon) together with two floors of offices above, accessed separately from High Street. The property benefits from undercroft parking.
Planning
Full planning permission (application number 11/00143/FUL) was granted in May 2011 for the conversion of the upper parts to 4 x studios, 4 x one bedroom flats and 4 x two bedroom flats.
In addition consent exists under permitted development rights granted in March 2014 (application number 14/00079/PAC/GPPACZ).
For further information/plans, please see the legal pack.
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises retail accommodation on the ground floor (a charity shop, pharmacy and beauty salon) together with two floors of offices above, accessed separately from High Street. The property benefits from undercroft parking.
Planning
Full planning permission (application number 11/00143/FUL) was granted in May 2011 for the conversion of the upper parts to 4 x studios, 4 x one bedroom flats and 4 x two bedroom flats.
In addition consent exists under permitted development rights granted in March 2014 (application number 14/00079/PAC/GPPACZ).
For further information/plans, please see the legal pack.
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
Ground
Retail
72.65 sq m
(782 sq ft)
THAMES HOSPICE CARE (1)
3 years from 26/12/2011
£9,000
(25/12/2014)
Ground
Retail
86.86 sq m
(935 sq ft)
H.A MCPARLAND LTD (2) (t/a NHS Pharmacy)
10 years 25/12/2010
£10,750
2015
Ground
Retail
145.80 sq m
(1,569 sq ft)
SARAI HAIR & BEAUTY LTD (3)
Two co-terminous leases each for terms of 10 years from 18/12/1013 (4)
£30,000
2018
First/Second
Offices
557.40 sq m
(6,000 sq ft)
VACANT (WITH PLANNING CONSENT)
Totals
862.71 sq m
(9,286 sq ft)
£49,750
(1) Thames Hospice trade from about 13 shops (www.thameshospice.org.uk). (2) H.A McParland trade from approximately 18 pharmacies including branches in Ascot, Amersham, Bookham and Marlow (www.hamcparland.co.uk). (3) www.sarai-hair.co.uk (4) Both leases to Sarai Hair & Beauty Ltd are subject to tenant only break options in December 2018.
