Full Details
Location -
The property is situated in the centre of the historic market town of Princes Risborough in a prominent location benefiting from dual access via Duke Street to the front and New Road to the rear. Duke Street is situated immediately off the characterful High Street and Market Square which offers a range of shops including a M&S Foodhall, WHSmith and Costa as well as pubs and restaurants. The town also provides a Tesco Superstore and Market Square is home to a popular local market every Thursday.
Transport links are excellent with Princes Risborough Station providing regular commuter services to London Marylebone, Oxford and Birmingham. M40 motorway J5 is 9 miles away.
Description -
The property is a mixed use retail, residential and medical investment currently let to four separate tenants. To the front is the retail premises of 4 Duke Street currently let to a dry cleaners and alterations business that also provides rear access.
To the rear is Henderson House which provides a ground floor medical aesthetics clinic. There are two well presented, two-bedroom residential properties on the first floor which extend over the clinic and retail premises. Both flats are let on Assured Shorthold tenancies and accessed via a ground floor entrance lobby. There is allocated car parking onsite to all tenants directly off New Road.
INVESTMENT DETAILS:
Property: 4 Duke Street
Tenant: Bentleys of Amersham Ltd
Term: 12/06/2023 -11/06/2033
Rent: £14,000 pa
Other: Tenant break option and rent review at year 5. Outside 1954 L&T Act.
Property: Ground Floor Henderson House
Tenant: Whiteleaf Medical Aesthetics Ltd
Term: 20/11/2023 - 19/11/2030
Rent: £12,500 pa
Other: Upwards only rent review on the 4th anniversary of the term. Outside 1954 L&T Act.
Property: Flat 1 Henderson House
Tenant: AST
Term: 08/12/2024 - 07/12/2025
Rent £13,800 pa
Other: Mutual break option 8th June 2025 with two months prior written notice.
Property: Flat 2 Henderson House
Tenant: AST
Term: 28/02/2025 - 27/02/2026
Rent: £13,200 pa
Total: £53,500 per annum.
Accommodation -
The premises provide the following accommodation measured on an approximate net internal area basis: -
4 Duke Street:
Ground Floor Retail 73.09 m2 / 878 sq ft
Henderson House:
Ground Floor Clinic 51.90 m2 / 559 sq ft
Flat 1, two bedroom 54 m2 / 581 sq ft
Flat 2, two bedroom 59 m2 / 635 sq ft
Total 237.99 m2 / 2,653 sq ft
Terms -
Our clients seek £875,000 for their freehold interest, subject to contract. VAT is not applicable.
ANTI MONEY LAUNDERING
To comply with our legal responsibilities for Anti-Money Laundering it will be necessary for the successful bidder to provide company information, identification and proof of funds before the deal is completed.
Rateable Value -
The Valuation Office website indicates that the 2023 Rateable Values of the premises have been assessed as follows. Rate in the £ for 24/25 is 49.9p.
4 Duke Street - £7,800.
Henderson House Office - £6,400.
Energy Performance Rating -
4 Duke Street: B-41
Ground Floor Clinic, Henderson House: C-75
Flat 1 Henderson House: D-68
Flat 2 Henderson House: C-70
Viewing -
Strictly by appointment with the Sole Agents Duncan Bailey Kennedy LLP:
Tom Good / Phillip Mawby
tomg@dbk.co.uk / phillipm@dbk.co.uk
01494 450951