TYPERetail - High Street, Other, Retail, Other Property Types & Opportunities
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON14th December 2020
Prominent location close to centre of Buckingham. Ground floor retail lock up with extensive ancillary storage and staff facilities.
The retail unit is let to Dominoes Pizza trading as DP Realty Limited, by way of a 20 year full repairing and insuring lease from 2016, with tenants break at the end of the 11th year at a rent of £24,000 per annum exclusive.
The freehold investment also includes 4 x 1 bedrooom flats at first and second floor within the building, let by way of 99 year leases from 1st January 1988, at a ground rent of £50 per annum per flat, increasing to £100 per annum per flat from 1st January 2021. On the basis that each flat has circa 70 years remaining, a premium will be payable by the long leaseholder to extend the lease of each flat in due course.