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Agent's details

Buckingham - Freehold Cafe & Ground Rent Investment

For sale: £260,000.00|670 Sq Ft|General Retail, Retail - High Street, Restaurant/Cafes, Restaurant/Cafes, Office, Restaurant/Cafes, Land, Retail, Offices, Commercial Land

Property details

FOR SALE£260,000.00
SIZE670 Sq Ft
ADDRESS14 Market Square, Buckingham, Buckinghamshire, MK18 1NW
TYPEGeneral Retail, Retail - High Street, Restaurant/Cafes, Restaurant/Cafes, Office, Restaurant/Cafes, Land, Retail, Offices, Commercial Land
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON10th June 2022

Description

Investment Consideration:
Gross Initial Yield: 7.88%
Rental Income: £20,500 p.a.
VAT is NOT applicable
Grade II Listed
Comprises ground floor cafe with ancillary accommodation at basement and two residential flats on first and second floor, which have been sold off on long leaseholds
Ground floor café newly fitted in 2021. Rated with 5/5 stars on Google
Occupiers close by Boots Opticians, WH Smith, Barclays and Lloyds Bank, amongst others.

Property Description:
The property is arranged on basement, ground and two upper floors to provide newly fitted ground floor cafe with storage at basement and two self-contained flats above (sold off on long lease), which are accessed from Market Hill at the rear of the property.
The property provides the following accommodation and dimensions:
Ground Floor: 45 sq m (480 sq ft)
Open plan seating area, Kitchen, WC
Basement: 17 sq m (190 sq ft)
Open plan storage
Total area size: 62 sq m (670 sq ft)

Tenancy:
The café is at present let to E&D Agos Ltd t/a Sugar & Spice for a term of 10 Years from 19th August 2022 at a curent rent of £20,000 p.a. and the lease contains full repairing and insuring covenants. Rent review linked to RPI and tenant option to determine on 19th August 2027. Deposit held of £5,000. Lease within Landlord & Tenant Act 1954. Tenant paid £10,000 premium upon commencement of lease.

Location:
Buckingham is an attractive market town situated 12 miles west of Milton Keynes, 20 miles south of Northampton and 25 miles north-east of Oxford. The M40 (Junction 10) is situated 12.5 miles to the west and the M1 is 15 miles to the east. Buckingham is well served by the A422 and A43 providing direct links to the M40 and M1. The town is home to the University of Buckingham, whilst both Stowe School and Akeley Wood School are a short distance to the north. The properties are situated on the north side of Market Square in the town centre, close to the junction with Bridge Street and West Street. Occupiers close by include Barclays Bank, WH Smith, Oxfam, Lloyds Bank, NatWest, Post Office, Betfred, M&Co among others.

Location

marker
Location: 14 Market Square, Buckingham, Buckinghamshire, MK18 1NW

Wolverton (9.0 miles)

Milton Keynes Central (9.4 miles)

Bicester North (9.7 miles)

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