Opposite an entrance to The Kennet Shopping Centre
Comprises two shops
Close to £13m development of 60 flats with retail units and car parking at 11/15 Bartholomew Street
Lot 36
Auction 26th March 2020
Rent £20,600 per Annum Exclusive
Status Sold
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
19 miles west of Reading
27 miles south of Oxford
55 miles west of London
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation
Newbury is an attractive Berkshire market town, 19 miles west of Reading, 27 miles south of Oxford and 55 miles west of London. The property is located in the town centre on the pedestrianised Bartholomew Street opposite an entrance to the The Kennet Shopping Centre, close to the junction with both Bridge Street and Market Place. Nearby occupiers close by include Caffè Nero, Lloyds Bank, Newbury Building Society, White Stuff, Timpson and The Works.
Tenure
Virtual Freehold. Held for a term of 999 years from 15/11/2001 at a peppercorn ground rent.
Location
Miles
19 miles west of Reading
27 miles south of Oxford
55 miles west of London
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation
Newbury is an attractive Berkshire market town, 19 miles west of Reading, 27 miles south of Oxford and 55 miles west of London. The property is located in the town centre on the pedestrianised Bartholomew Street opposite an entrance to the The Kennet Shopping Centre, close to the junction with both Bridge Street and Market Place. Nearby occupiers close by include Caffè Nero, Lloyds Bank, Newbury Building Society, White Stuff, Timpson and The Works.
Tenure
Virtual Freehold. Held for a term of 999 years from 15/11/2001 at a peppercorn ground rent.
Description
The property comprises two ground floor shops only, which form part of a larger building, the remainder of which is not included in the sale.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack at acuitus.co.uk
Description
The property comprises two ground floor shops only, which form part of a larger building, the remainder of which is not included in the sale.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Review/ (Reversion)
4
Retail
60 sq m
(645 sq ft)
INDIVIDUAL t/a Star Nails & Beauty
10 years from 02/05/2013
£18,600
(02/04/2023)
6/8
Retail
102 sq m
(1,098 sq ft)
INDIVIDUALS (1)
10 years (1)
£12,000 rising £500 pa until the 4th year (1)
Mast
Roof Mast
VODAFONE
Terms of years expiring 29/08/2016
£2,000
Holding Over
Total
162 sq m
(1,743 sq ft)
£20,600 (1)
(1) Terms for a new 10 year lease at £12,000 per annum, rising £500 p.a until the 4th year, with options to determine in the 4th and 7th years, have been agreed and are currently in solicitors hands, due to complete imminently. The tenant has a 6 month rent free period. The Seller will adjust completion monies so that the unit effectively produces £12,000 per annum from completion of the sale.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Fladgate LLP 16 Great Queen Street London WC2B 5DG
