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
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
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.
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
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
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.
