Commercial property for sale in High Street, Hungerford RG17

Strapline

Auction Sale - 19/03/2024

Of interest to investors and developers

An end of terrace property comprising of a ground floor commercial unit let to Boots UK Limited with approved planning permission for 2 dwellings ( a two bed & three bed flat) on 1st & 2nd floor. Located in an affluent and prosperous town of Hungerford.

Investment let at £18,125 p.a.

Description

The property comprises of a three storey, brick built building in the heart of Hungerford High Street. With ground floor retail space, first and second floor ancillary space. Previously the first and second floors would have been living accommodations.

The retail premises are open plan and include air conditioning, strip lighting, and vinyl flooring. There is a goods' lift serving the ground and first floors of the property.

The first floor is accessible from either the High Street leading through a doorway to an external metal staircase or from the rear of the shop via a timber staircase to a long corridor leading into the same first floor space. The first floor currently includes a staff room to the front, a separate staff area/changing area behind, two WC's and a rear room currently partly used as a stockholding area for the retail property. The second floor is only accessed via the external metal staircase which has been unused for a number of years.

The property has approved planning permission to convert the upper floors into 2 dwellings

Proposed accommodation

First Floor - 3 Bedroom flat an approx. 796 sq ft (74 sqm)

Second Floor - 2 Bedroom Flat an approx. 731 sq ft (68 sqm)

There are current discussions with the tenant which would release all of the area required for the residential conversion (planning granted) by implementing the approved storage area extension on the rear 1st floor flat roof

There is approved planning permission for an extension of the 1st floor to provide additional commercial floor space and WC accommodation for the existing tenant.

Location

The property occupies a prominent location at the heart of Hungerford high street. Nearby occupiers include Royal Mail, Inklings, Coffee Number 1, Co-op and Tesco.

Hungerford Station is an approx. 0.2 miles from the property

Transport

Hungerford Station - National rail services

Tenancy

Please refer to Accommodation/Tenancy schedule

Accommodation

Please refer to Accommodation/Tenancy schedule

Planning

West Berkshire Council

Planning ref 23/01175/pacou

Description Application to determine if prior approval is required for a proposed: Prior Notification requirement under Part G of the gpdo for the change of use of the upper two floors from ancillary retail space (Class E) to form 2 apartments.

Planning ref: 23/02837/ful

Description: Retention (with materials modification) and extension of first floor rear for use as commercial storage