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Lot 6 Click here for addendum

Freehold Shop & Flat Investment
6 Week Completion

Situation

Located close to the junction with Cleeve Road within this established parade amongst a host of independent retailers, cafés and restaurants as well as Lloyds Pharmacy and McColl's all serving the surrounding population of this affluent and picturesque Berkshire village. The village's main car park is located towards the rear of the property and Goring & Streatley Rail Station is within a ⅓ mile.
Goring-on-Thames lies off the A329 approx. 10 miles north-west of Reading and 18 miles south of Oxford with easy access to the M4 (Junction 12).

Property

An end of terrace building comprising a Ground Floor Take-Away/Restaurant (see Note 1) and separate front access to a Taxi Office (see Note 2) together with a separate rear entrance to a Self-Contained Flat (see Note 3) on the first floor.

Accommodation

Ground Floor Take-Away/Restaurant
Internal Width 15'4”
widening at rear to 19'11”
Restaurant Depth 59'2”
Built Depth 67'1”
Restaurant/Kitchen Area Approx. 715 sq ft
Ancillary Area Approx. 135 sq ft plus WC

Ground Floor Taxi Office
Area Approx. 305 sq ft plus WC

First Floor Flat
2 Bedrooms, Living Room, Kitchen, Bathroom/WC (Not inspected)

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Md A. Hassan (Fish & Chips and Taxi Office - see Notes 1, 2 & 3) for a term of 25 years from 17th January 2019 (excl. s24-28 of L & T Act 1954) at a current rent of £32,000 per annum exclusive.

There is a £10,000 Rent Deposit held.

Rent Reviews 2023 and 4 yearly.

Note 1: Planning Permission was granted on 16th October 2020 by South Oxfordshire District Council for ‘Change of Use of part A5 user class (Hot Food Takeaway) to A3 user class (Restaurant)' - ref: P20/S2373/FUL. The tenant is currently in the process of creating the dining/seating area and has advised it should be ready for use by the end of this year.

Note 2: The tenant uses the Taxi Office to run his school transportation business.

Note 3: The tenant has advised that he sublets the flat on an AST for £10,800 p.a.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

11 High Street, Goring-on-Thames, Berkshire RG8 9AT