Freehold Commercial Investment Property In Abingdon For Sale

Abingdon, Oxfordshire, UK

Asking Price:: £550,000

Turnover:: £30,500

Net Profit:: Available on request

Characterful freehold property benefiting from Classes A3 and A5 planning consent and well located in a prominent corner position fronting a busy main road close to the centre of Abingdon, Oxfordshire.

Classes A3 and A5

Key features:
- Prominent corner location within a historic and popular south Oxfordshire Thames-side town
- Three storey grade ii listed period terraced property
- Internal inspection recommended, strictly by prior appointment through Business Partnership

Property Information

Property:: Freehold

Lease Terms:

Freehold, subject to the following leases:
17 Bridge Street: The premises are held on an internal repairing and insuring lease for a period of 20 years from 2nd May 2002, subject to rent reviews every 5 years. Current rent £11,500 per annum, exclusive of rates. The lease is currently ‘held over’ and negotiations are ongoing in respect of agreeing the terms of a new lease. The Landlord has proposed a commencing rent of £15,000 per annum, exclusive of rates.

17A Bridge Street: The premises are held on a fully repairing and insuring lease for a period of 15 years from July 2017. Current passing rent £19,000 per annum, exclusive of business rates. The lease is subject to rent reviews every five years. Notice in respect of the rent review due July 2022 has not been served by the Landlord.

Location:: Town centre location

Premises Details:: Terraced Grade II listed period property constructed of whitened rendered elevations under a clay tiled roof and comprises of two separate, self-contained business units.