ADDRESS1 London Road, Marlborough, Wiltshire, SN8 1PH
TYPEOffice, Retail, General Retail, Retail - High Street, Other, Offices, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON26th October 2023
Description
Marlborough is an attractive market town located at the Junction of the A4 and A346 approximately 11 miles south of Swindon and 18 miles west of Newbury. The property is situated at the junction of New Road, Barn Street and London Road in Marlborough. The property is a 3 storey, end terrace property of mainly brick construction under pitched tiled rooves. The ground floor is currently let to an estate agents and comprises a retail/office area with 2 prominent display windows and to the rear a kitchenette, store and toilet. One parking space is available in the rear car park. Flat 1A is a two bedroom flat on the first and second floor; Flat 1B lies to the rear on ground and first floors is a two bedroom flat. TERMS: The property is held on a long leasehold of 999 years from July 2014 at a peppercorn rent per annum and is offered for sale subject to a 20 year FRI lease to Brearley & Rich from 1/12/2016 at a current rent of £15,000 per annum, subject to rent review on 1/02/2025 and tenant break options. The 2 flats have been sold off, but produce ground rents of £150 p.a. each, increasing to £200 p.a. with effect from 1/1/2030. Total current rental income is £15,300 p.a.
