Acquired
Buckingham – Co-op Funeralcare & Ground Rent
14 Market Square, Buckingham MK18 1NWFreehold Shop & Ground Rent Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
724 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop with ancillary at basement and two residential flats on first and second floor, which have been sold off on long leaseholds.
- Total area size of 67.2 sqm (724 sq ft)
- Occupiers close by Boots Opticians, WH Smith, Barclays, Lloyds Bank, Oxfam, 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 ground floor retail unit with 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 Shop and Basement: 67.2 sqm (724 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor Shop and Basement: 67.2 sqm (724 sq ft)
Tenancy Description
The property is at present let to The Co-operative Funeralcare for a term of 5 years from 6th June 2016 at a current rent of £13,000 per annum with ground rent for the upper flats of £500 p.a. The lease provides for rent reviews every fifth year of the term and contains full repairing and insuring covenants.
*Note - Tenant not in occupation
*Note - Tenant not in occupation
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.
