Acquired
Buckingham – Cafe & Ground Rent
14 Market Square, Buckingham MK18 1NWFreehold Cafe & Residential Ground Rent Investment
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
8y 8m
Area
670 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Grade II Listed
- Comprises ground floor cafe with ancillary accommodation at basement and two residential flats on first and second floor, which have been sold off on long leaseholds
- Ground floor café newly fitted in 2021. Rated with 5/5 stars on Google
- Occupiers close by Boots Opticians, WH Smith, Barclays and Lloyds Bank, amongst others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged on basement, ground and two upper floors to provide newly fitted ground floor cafe with storage at basement and two self-contained flats above (sold off on long lease), which are accessed from Market Hill at the rear of the property.
The property provides the following accommodation and dimensions:
Ground Floor: 45 sq m (480 sq ft)
Open plan seating area, Kitchen, WC
Basement: 17 sq m (190 sq ft)
Open plan storage
Total area size: 62 sq m (670 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: 45 sq m (480 sq ft)
Open plan seating area, Kitchen, WC
Basement: 17 sq m (190 sq ft)
Open plan storage
Total area size: 62 sq m (670 sq ft)
Tenancy Description
The café is at present let to Afro Combo Ltd (with personal guarantee) for a term of 10 Years from 25th August 2023 at a curent rent of £20,000 p.a. and the lease contains full repairing and insuring covenants. Rent review linked to RPI and tenant option to determine on 25th August 2028. Deposit held of £5,000.
Tenancies & Accommodation
Location Description
Buckingham is an attractive market town situated 12 miles west of Milton Keynes, 20 miles south of Northampton and 25 miles north-east of Oxford. The M40 (Junction 10) is situated 12.5 miles to the west and the M1 is 15 miles to the east. Buckingham is well served by the A422 and A43 providing direct links to the M40 and M1. The town is home to the University of Buckingham, whilst both Stowe School and Akeley Wood School are a short distance to the north. The properties are situated on the north side of Market Square in the town centre, close to the junction with Bridge Street and West Street. Occupiers close by include Barclays Bank, WH Smith, Oxfam, Lloyds Bank, NatWest, Post Office, Betfred, M&Co among others.
