13 Market Place Wokingham Berkshire RG40 1AL

13 Market Place
Wokingham
Berkshire
RG40 1AL

Freehold Retail Investment with Prior Approval to convert Upper Floors to Residential

Of interest to Investors and Developers
Separately accessed offices above
Prior approval for conversion of offices to 2x 2 bed flats (see Planning)
Shop let to Helen & Douglas House (a Charity)
Affluent Thames Valley market town
Nearby occupiers include Waitrose, Cote Brasserie, Pizza Express, Zizzi, Gail's, Nando's, Everyman Cinema, The Edinburgh Woollen Mill, Waterstones, Costa Coffee and Boots the Chemist

Lot
21
Auction
30th March 2023
Rent
£47,500 per Annum
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Investment with Prior Approval to convert Upper Floors to Residential

Of interest to Investors and Developers
Separately accessed offices above
Prior approval for conversion of offices to 2x 2 bed flats (see Planning)
Shop let to Helen & Douglas House (a Charity)
Affluent Thames Valley market town
Nearby occupiers include Waitrose, Cote Brasserie, Pizza Express, Zizzi, Gail's, Nando's, Everyman Cinema, The Edinburgh Woollen Mill, Waterstones, Costa Coffee and Boots the Chemist

Lot 21
Auction 30th March 2023
Rent £47,500 per Annum
Status Sold Post
Price
Sector
High Street Retail, Residential, Development
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 8 miles south-east of Reading, 9 miles north-east of Basingstoke, 38 miles west of Central London
Roads: A329, M3, M4
Rail: Wokingham Rail Station
Air: London Heathrow

Situation

Wokingham is an affluent commuter town situated along the M4 motorway corridor. Junction 4 of the M3 motorway lies approximately 6 miles south-east of the town centre. The property is situated in the heart of Wokingham town centre, prominently located on Market Place, close to its junction with Denmark Street. Nearby occupiers include Waitrose, Cote Brasserie, Pizza Express, Zizzi, Gail's, Nando's, Everyman Cinema, The Edinburgh Woollen Mill, Waterstones, Costa Coffee and Boots the Chemist.

Tenure

Freehold.

Location

Miles: 8 miles south-east of Reading, 9 miles north-east of Basingstoke, 38 miles west of Central London
Roads: A329, M3, M4
Rail: Wokingham Rail Station
Air: London Heathrow

Situation

Tenure

Freehold.

Description

The property comprises a shop arranged on the ground floor with separately accessed office accommodation arranged on the first and second floors, with separate access from Market Place.

VAT

VAT is applicable to this lot.

Planning

Prior approval was granted in October 2020 to convert the offices on the first and second floors to residential flats as well as additional windows to the front elevation. All enquiries should be made with Wokingham Borough Council (www.wokingham.gov.uk) (tel: 0118 974 6000). Ref: 203302 and 202461

Completion Period

Six Week Completion

EPC

Band C

Description

The property comprises a shop arranged on the ground floor with separately accessed office accommodation arranged on the first and second floors, with separate access from Market Place.

VAT

VAT is applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground	Retail/Ancillary	73.80	(795)	HELEN & DOUGLAS HOUSE (1)	10 years from 04/07/2016	£37,500
First Second	Office Office	64.90 43.00	(699) (463)	DAY & JOHNSON LIMITED (2)	See footnote (2)	£10,000
Total		181.70	(1,957)			£47,500

(1) www.helenanddouglas.org.uk - Helen & Douglas House now operate from 37 shops throughout Buckinghamshire, Berkshire and Gloucestershire.
(2) Day & Johnson are an established Practice of construction professionals who have been providing services and advice to the construction industry for over 25 years (www.day-johnson.co.uk). The tenant has occupied the first and second floors since at least 2016 and pays a rent of £10,000 pa (paid monthly in arrears) including insurance by way of an informal agreement - please see legal pack.

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.