Let to WH Smith Retail Holdings Limited until 2025 (no breaks)
Prominent position on Market Square
Affluent market town
Nearby occupiers include Oxfam, Boots Opticians, Lloyds Bank and Costa
Lot 35
Auction 11th July 2018
Rent £30,401 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On the instructions of Orbit Property Management
Property Information
Location
Miles
20 miles north-east of Oxford, 50 miles south-east of Birmingham, 50 miles north-west of London
Roads
A422, A421, A43, M40
Rail
Milton Keynes Central
Air
Luton Airport
Situation
Buckingham is an affluent and thriving market town situated 20 miles north-east of Oxford. The property is situated in a prominent position on the north side of Market Square, which in turn connects to High Street. Nearby occupiers include Oxfam, Boots Opticians, Lloyds Bank and Costa.
Tenure
Freehold.
Location
Miles
20 miles north-east of Oxford, 50 miles south-east of Birmingham, 50 miles north-west of London
Roads
A422, A421, A43, M40
Rail
Milton Keynes Central
Air
Luton Airport
Situation
Buckingham is an affluent and thriving market town situated 20 miles north-east of Oxford. The property is situated in a prominent position on the north side of Market Square, which in turn connects to High Street. Nearby occupiers include Oxfam, Boots Opticians, Lloyds Bank and Costa.
Tenure
Freehold.
Description
The property is an attractive Grade II listed building comprising a ground floor retail unit with basement ancillary accommodation. The first and second floors comprise self-contained residential accommodation which has been let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completions
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive Grade II listed building comprising a ground floor retail unit with basement ancillary accommodation. The first and second floors comprise self-contained residential accommodation which has been let on long leases.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completions
EPC
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
Ground Basement
Retail Ancillary
153.69 sq m 90.01 sq m
(1,654 sq ft) (969 sq ft)
WH SMITH RETAIL HOLDINGS LIMITED (1)
Approx 21 years and 10 months from 11/06/2003 until 29/04/2025 on an effective full repairing and insuring lease (2)
£30,400
11/06/2018 and 11/06/2023
First Second
Residential Residential
Not measured Not measured
DAUBER HOMES MANAGEMENT LIMITED
999 years from 16/06/2004 until 15/06/3003
£1
Total
243.70 sq m
(2,623 sq ft)
£30,401
(1) For the year ending 31 August 2017, WH Smith Retail Holdings Limited reported a turnover of £181,024,000, pre-tax profits of £67,219,000 and a total net worth of £449,954,000 (Source: Experian Group 15/06/2018). (2) For the purpose of clarification, the current lease is for a term of 15 years expiring 10/06/2018, however a reversionary lease has been signed from expiry of the current term until 25/11/2025.
