Freehold Retail Investment with Planning for Residential on Upper Floors
Shop let to Merkur Slots UK Limited until February 2036 (subject to options)
Vacant upper floors with Planning Permission granted in January 2022 for conversion to Residential
Very close to the main entrance of Queensmere Shopping Centre
Nearby occupiers include Iceland Supermarket, Boots the Chemist, Superdrug, Nando's, Greggs, McDonald's, KFC, JD Wetherspoon
Lot 3
Auction 9th July 2024
Rent £42,500 per Annum Exclusive plus Vacant Upper Floors with Planning to convert to 5 Flats
Status Sold
Price £752,000
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
20 miles east of Reading, 22 miles west of Central London
Roads
A332, A412, M4 (Junction 6), M25 (Junction 15)
Rail
Slough Railway Station (Elizabeth Line and Overground)
Air
London Heathrow Airport (5 miles)
Situation
The property is prominently situated on the north side of High Street, in the heart of the town centre, which leads to the main entrance of Queensmere Shopping Centre. Nearby occupiers include Iceland Supermarket, Boots the Chemist, Superdrug, Nando's, Greggs, McDonald's, KFC, JD Wetherspoon.
Tenure
Freehold.
Location
Miles
20 miles east of Reading, 22 miles west of Central London
Roads
A332, A412, M4 (Junction 6), M25 (Junction 15)
Rail
Slough Railway Station (Elizabeth Line and Overground)
Air
London Heathrow Airport (5 miles)
Situation
The property is prominently situated on the north side of High Street, in the heart of the town centre, which leads to the main entrance of Queensmere Shopping Centre. Nearby occupiers include Iceland Supermarket, Boots the Chemist, Superdrug, Nando's, Greggs, McDonald's, KFC, JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a well-configured shop arranged on the ground floor, with separately-accessed ancillary accommodation arranged on the first and second floors, offered vacant with planning to convert to residential. The property also comprises a basement with ancillary accommodation, also offered vacant.
VAT
VAT is applicable to this lot.
Planning
Planning permission was granted on 27/01/2022 from Slough Borough Council (R: P/03748/014) for the change of use from Offices to Residential (class C3) of the first and second floors, including a loft conversion. (www.slough.gov.uk)
Completion Period
Six Week Completion
EPC
Band D
Description
The property comprises a well-configured shop arranged on the ground floor, with separately-accessed ancillary accommodation arranged on the first and second floors, offered vacant with planning to convert to residential. The property also comprises a basement with ancillary accommodation, also offered vacant.
VAT
VAT is applicable to this lot.
Planning
Planning permission was granted on 27/01/2022 from Slough Borough Council (R: P/03748/014) for the change of use from Offices to Residential (class C3) of the first and second floors, including a loft conversion. (www.slough.gov.uk)
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Rent Reviews
Ground
Retail/Ancillary
131.92
(1,420)
MERKUR SLOTS UK LIMITED (1)
15 years from 18/02/2021 on a full repairing and insuring lease (2)
£42,500
17/02/2026 and 17/02/2031
First / Second
Ancillary Ancillary
92.90 86.86
(1,000) (935)
VACANT
-
-
-
Total
311.68
(3,355)
£42,500
(1) The Merkur Casino Group operates from over 200 stores across the UK. The Merkur Casino Group is a part of the Gauselmann Group, a large multi-national adult gaming company, that also operate in Germany and Spain (www.merkurcasinouk.com). For the year ending 31/12/2023, Merkur Slots UK Limited reported a turnover of £181,521,000, a pre-tax profit of £4,331,000 and a net worth of £4,257,000 (www.northrow.com) (2) The lease is subject to a tenant only option to determine on 17/02/2026 and 17/02/2031. The lease is also subject to a schedule of condition. NB: Please note that the property has a Basement which is accessed via a separate external staircase to rear of the property but the Basement is not demised to Merkur.
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.
