Offers in region of
£350,000
(£1,020.41/sq. ft)
Retail premises for sale3 Church Street, Windsor SL4
343 sq. ft
Just added
Freehold
About this property
Prime tourist location
Feature window frontage
Shop plus freehold flats on long leases
Description
A retail unit with an attractive bay window frontage in the centre of the primary cobbled street retail sector opposite Windsor Castle and the Henry VIIIth gate which the guards march in and out of during their regular parades, attracting crowds of tourists. The premises have a prominent frontage at the castle end of the street. Also included are three apartments, sold on long leases with the benefit of ground rents and future reversions / enfranchisement payments.
Location
Church Street is in the prime tourist area of Windsor, opposite the Henry VIII gate entrance to Windsor Castle's nearby pedestrian roads. Windsor Castle attracts 7.8 million visitors a year and the only tourist entrance is within a few yards of this unit.
Terms
Available freehold, VAT is not applicable. Offers are invited at £350,000 subject to contract and proof of finance. The transaction is also subject to the Residential Leaseholders not exercising their Rights of First Refusal to leasehold enfranchisement lease extensions following service of the formal notice at the agreed purchase price. Should this occur during the sales process, the price of the freehold shop investment element will adjust in part, in contemplation, to compensate.
Leases
The primary lease is for the shop which is a protected lease expiring 15th June 2026 (with a June 2021 rent review which to date has not been actioned). Current passing rent £19,000 p.a.x. Three apartments are also included. Two apartments consist of very long leases plus one apartment with a short lease of 49 years. All are held on peppercorn ground rents.
Flat 6 held for a term of 186 years from 29th September 1975 (136 years unexpired)
Flat 4 lease dated 10th February 1976 assigned 6th July 1992 for £54,000.
(approximately 49 years unexpired).
Flat 2 held from 19th September 2017 for a term to 24th September 2164 (139 years unexpired).
A retail unit with an attractive bay window frontage in the centre of the primary cobbled street retail sector opposite Windsor Castle and the Henry VIIIth gate which the guards march in and out of during their regular parades, attracting crowds of tourists. The premises have a prominent frontage at the castle end of the street. Also included are three apartments, sold on long leases with the benefit of ground rents and future reversions / enfranchisement payments.
Location
Church Street is in the prime tourist area of Windsor, opposite the Henry VIII gate entrance to Windsor Castle's nearby pedestrian roads. Windsor Castle attracts 7.8 million visitors a year and the only tourist entrance is within a few yards of this unit.
Terms
Available freehold, VAT is not applicable. Offers are invited at £350,000 subject to contract and proof of finance. The transaction is also subject to the Residential Leaseholders not exercising their Rights of First Refusal to leasehold enfranchisement lease extensions following service of the formal notice at the agreed purchase price. Should this occur during the sales process, the price of the freehold shop investment element will adjust in part, in contemplation, to compensate.
Leases
The primary lease is for the shop which is a protected lease expiring 15th June 2026 (with a June 2021 rent review which to date has not been actioned). Current passing rent £19,000 p.a.x. Three apartments are also included. Two apartments consist of very long leases plus one apartment with a short lease of 49 years. All are held on peppercorn ground rents.
Flat 6 held for a term of 186 years from 29th September 1975 (136 years unexpired)
Flat 4 lease dated 10th February 1976 assigned 6th July 1992 for £54,000.
(approximately 49 years unexpired).
Flat 2 held from 19th September 2017 for a term to 24th September 2164 (139 years unexpired).
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Monthly repayment
£1,750 per month
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