Location:
The properties are located in the centre of Windsor in a good secondary retail location, less than 200 metres from Peascod Street, and opposite East Berkshire College. Windsor is a thriving prosperous and vibrant town in the Thames Valley with extensive retail and restaurant premises in the town. Windsor is located just off the M4 (Junctions 5 & 6) and approximately 30 miles west of London. Heathrow Airport is close by.
Description:
The premises comprise two mid-terraced shops with separately accessed upper parts.
No. 43 comprises a ground floor shop plus basement, together with a shared yard area (with no.45) to the rear with vehicular access via Albany Road.
No. 43a is a self-contained two bedroom flat, refurbished to a high standard and currently let on an AST agreement.
No. 45 St Leonards Road, comprising of a ground floor restaurant area, plus rear raised eating area, together with basement with toilets and ancillary storage and trading as “The Lightening Tree”.
No. 45a St Leonards Road is currently vacant, previously used as a photographic studio and would be suitable for conversion to residential, Subject to Planning.
Rental income and lease details:
43 St Leonards Road let to Eastern Oriental Rugs and Carpets Ltd with a £10,000 rental deposit for a term of 10 years from 24th July 2009 at a rental of £20,000 p.a.x. outside the security provisions of the Landlord and Tenant Act 1954 subject to rent review and tenant’s break @24th July 2014.
43a St Leonards Road let on an AST agreement at £17,400 p.a. until 24th July 2010
45 St Leonards Road let at £30,000 p.a.x. to JLJ Bars Ltd with a personal guarantee from John Hill plus a £10,000 rental deposit for a term of 10 years from 13th August 2008 subject to review & tenants break @13th August 2013.
45a St Leonards Road Vacant TOTAL INCOME £67,400 p.a.x.
Guide Price:
Offers invited over £900,000 for the freehold interest.
Legal costs:
Both parties to bear their own legal costs.
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