Commercial property for sale in High Street, Sunninghill, Ascot SL5

From £550,000 (£273.77/sq. ft)
Interested in this property? Call +44 1753 903388 * or Request Details

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Commercial property for sale 2,009 sq. ft*
Tenure: Freehold Council tax band: Not available

Property description

Key Points

  • Freehold investment
  • Attractive village location
  • Mixed retail and residential uses
  • Rear parking
  • Asset management opportunity
  • Available at cap value £274 psf
  • Self contained first floor flat
  • No VAT payable on purchase price
  • Description

    The property comprises a two storey mid terrace building with ground floor retail unit, currently occupied by Anne Marie Patisserie, On the first floor is a front office and a self contained one bedroom apartment. The property also benefits from rear access via Bridge Road service area and rear parking. There is ample free parking for customers of the parade of shops to the front of the property. The parade has a wide pavement. The bakers also use this for table and chair seating for customers. The EPC for the shop element is C70 and for the residential D63.

    Location

    The property is located in Sunninghill, east of Ascot. The high street is part of a vibrant and busy village with an array of independent retailers, cafes and restaurants. Ascot town centre and train station is just over a mile away. There are good road connections to the motorway network including the M3, M4 and M25.

    Terms

    The property is offered for sale as a freehold investment, let to Mayglade Ltd trading as Anne Marie Patisserie. The lease term ends 30th April 2023 (subject to renewal) currently at a rent of £20,250 p.a.x. Payable quarterly. The permitted use is A1 retail save that the first floor or a part thereof, may be and is used for residential purposes. The tenant is responsible for maintaining the property in good and substantial repair. To date, no statutory notices have been served by either party.

    Market Background

    One bedroom apartment sales currently range between £450 and £472 per sq.ft., the lower being for studio, medium for retirement and the higher level for local maisonette accommodation, in good repair, well presented for the market. Recent commercial property retail investment sales show yields of circa 7.25% gross for good village location property. In the longer term 66 & 66a High Street present the opportunity for conversion of the first floor into a 2 bedroom apartment, in addition possible reconfiguration of the ground floor (subject to the necessary planning consents and building regulations).

    Currently one bedroom flats in Sunninghill are commanding circa £1,000 per calendar month. Commercial property wise there is a lack of available retail space, the High Street is almost fully let as are Sunningdale and Ascot High Streets., so retail rents have generally been increasing.
    The tenant has the right to renew their lease next year at which point, if they decide to, a new open market rent needs to be agreed or determined.

    Market Comparable: 76a High Street, Sunninghill
    Refurbished two storey property & freehold sold with full vacant possession in November 2021 & by private treaty for £600,000 (cap value of £429 psf).

    Viewings

    For further information and appointments to view the property interested parties should contact either ourselves, Christopher Thomas on or our joint agent Stephen Anderson, Aitchison Raffety on

    VAT

    The property has not been elected for VAT and therefore VAT is not applicable to the purchase price.

    Property info

    * Sizes listed are approximate. Please contact the agent to confirm actual size.

    Arrange Viewing

    For more information about this property, please contact
    Christopher Thomas, SL4 on +44 1753 903388 * (local rate)

    Contact Christopher Thomas about this property

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    Disclaimer

    Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Christopher Thomas, and do not constitute property particulars. Please contact Christopher Thomas for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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