Investment for sale

FREEHOLD TOWN CENTRE RETAIL INVESTMENT FOR SALE
TOWN CENTRE
TWO ATTRACTIVE RETAIL UNITS & RESIDENTIAL GROUND RENTS
7% NET YIELD
REAR ACCESS & PARKING
LOCATION
The property is situated in the vibrant heart of Gerrards Cross between the junctions of Packhorse Road with Station Road and Oak End Way - a highly prominent town-centre position. Street car parking is available close by, as are several public car parks, and the mainline railway station is 2 minutes' walk away. Gerrards Cross is an affluent small town just off the A40 to the west of London and sits 4 miles east of Beaconsfield and junction 2 of the M40.
DESCRIPTION
The property comprises two prominent retail units, one of 856 ft2 and the other 820 ft2, within a 3 storey, Edwardian building in the town centre. A central entrance leads to a rear car park and to 4 flats on 1st & 2nd floors. The flats are all sold on long leases (although note that one or more may be available by separate negotiation).
TENANCIES
52 Packhorse Road is let to GX Optical Ltd, trading as Boots Opticians, for a term of 11 years expiring 3rd August 2033 with rent reviews in August 2027 and the last day of the term, to open market rent, and the tenant has an option to break in March 2028 on serving
6 months' notice. The current rent is ｣27,500 p.a.x. 54 Packhorse Road is let to TOGL Ltd, with personal guarantor, for a term expiring September 2033 with a rent review in September 2028 and no break options. The passing rent is ｣25,600 p.a.x. on effectively fully repairing terms. Total commercial income stands
at ｣53,100 p.a. Ground rent income from the 4 flats is ｣1150 p.a. so total for the property is ｣54,250 p.a.
EPCs
Shop 52 (Boots) is a C. Shop 54 TBA. Each flat is rated a C.
TERMS
We are seeking offers in excess of ｣735,000 for the freehold interest in the building.
VIEWINGS
Strictly by arrangement with sole agents. For more information, email [email protected] or phone 01494 683642