Lease for sale Mill Street, Wantage

Location

Historic Wantage, along with nearby Grove, is a rapidly growing town located in affluent southern Oxfordshire at the junction of the A338 and A417, approximately 6 miles west of the A34/Milton Interchange near Didcot and 15 miles southwest of Oxford. The premises are on the south side of Mill Street, approx. 100m from the central Market Place shopping area and immediately opposite the pedestrian walkway into Kings Park shopping centre & car park.

Accommodation (all dimensions approximate)

Presently arranged as 37 covers over two floor levels with the majority laid out in the front area. There is a ventilated catering kitchen at the rear with a counter/servery adjacent. There is a single/unisex WC and also a separate storage space.

he floor areas – front area 25.58sq.m/275sq.ft, rear area 40.71sq.m/438sq.ft. So 66.29sq,m/713sq.ft in total plus the kitchen.

Heating is by a gas fired boiler to radiators, cooling is by air conditioning

Description

Well-presented, fully equipped café premises located on the main road into Wantage town centre from the west.

Rental lease

Currently rented at £12,000pa exclusive of any other tenant's outgoings for the whole term, under a full repairing and insuring lease held inside the security of tenure provisions of ss.24 to 28 of Part 2 of the Landlord & Tenant Act 1954, renewed in September 2022 for a term of 5 years from 04/2021 with a tenant only break option, subject to 6 months' prior notice in 09/2025.

The Inventory

The premises are available fully equipped with tables, chairs, crockery, cutlery, catering appliances and utensils.

Business Rates

Rateable Value (April 2023) £9,000. Small Business Rate Multiplier 2023/24 is x 0.499 = £4,491.00 payable but, as the RV is below £12,000 Small Business Rate Relief should be claimable meaning £Nil rates payable. Please contact VWHDC business rates dept. directly for confirmation.

VAT

We understand that VAT is not payable in addition to the rent.

Services

Mains water, electricity gas and drainage are connected. Telephone/broadband and trade waste disposal by the tenant's own subscriptions.

EPC rating

A very good B/33. Full details available on request

Guide price

For the benefit of the lease and hardware in situ offers in the region of £15,000 are invited

Local planning and rating authority

Vale of White Horse District Council – Abbey House, Abbey Close, Abingdon OX14 4SE
Tel:

Viewing

By prior appointment with the sole selling agent, Green & Co Commercial and Development Agency, during usual business hours Monday to Friday only. Tel. ref. RH or email robin.

Agent's notes

1. Prospective assignees of the lease will need to provide evidence of their experience and last 3 years' trading figures in order for the outgoing assignor to gain licence from the landlord to assign the lease to them.
2. Reason for sale – early retirement due to ill health.
3. The premises are located within the designated town centre Conservation Area.