For Sale -Large lock-up shop with good rental growth prospects
Comprising a large lock-up shop with extensive basement stores / offices.
Gross Frontage - 18 feet
Build Depth 47 feet
Net Floor Areas :
Ground Floor Retail - 880 Sq Ft
Basement - 620 Sq Ft
Note : All areas are approximate
Location:
The property is situated in the centre of Windsor in a good secondary retail location less than 200 metres from Peascod St. and opposite the recently opened Windsor Campus of East Berkshire College.
Lease:
The entire property is let to Lodge Bros. (Funerals) Limited on the following terms :- Term : 10 years from 18th Jan. 2008 Rent : £27,500 per annum Rent Review : upward only on 18th Jan. 2013 Repairs : effective full repairing and insuring Tenant’s Break : at the end of 5 years on 6 month’s notice.
Amenities:
Multiple Retailer Covenant
No VAT payable
Price:
£450,000 to show a net return of 5.4%
The Tenant:
Trading as a Private Limited Company Lodge Bros. (Funerals) Limited is a long established (founded in 1965) firm of funeral directors with 32 outlets through the Home Counties Audited Accounts for y/e 31st Dec. ’06. Turnover …. £9.26 mill. Profit before Tax ….. £1.81 mill Experian Credit Check Report (8.02.08) Financial Stability Assessment – A Very Low Risk (confidence)
Use:
The property has an A1 (Retail) Use.
Business rates:
The property is assessed at Rateable Value £17,750
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