16 / 17 Market Square Buckingham Buckinghamshire MK18 1NW

16 / 17 Market Square
Buckingham
Buckinghamshire
MK18 1NW

Freehold Retail Investment

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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the instructions of Orbit Property Management

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Freehold Retail Investment

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

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

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.