36 High Street Stony Stratford, Milton Keynes MK11 1AF, 36 High Street, Stony Stratford, Milton Keynes

Guide price

£195,000

Auction

Size

1,317

Tenure

Freehold

EPC

Parking

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Primary use
Mixed use

No floor / site plan

Key features

  • Asset management potential to improve the passing rent via section 25 notice
  • Tenant has been in occupation since 2007 (currently holding over)
  • Tenant confirmed they wish to remain at the property (Please refer to tenancy)
  • VAT free investment
  • Let at £18,250 p.a (9.35% GIY on guide or 14.61% on GIY subject to the new rent)
  • A freehold mid terrace property an approx. 1,917 sq ft over 3 floor
  • Section 25 notice served increasing the rent to £28,500 p.a.
  • Development potential to convert the upper floors into a number of dwellings
  • Car parking to the rear
  • 6 week completion available

Description

A freehold mid-terrace commercial investment extending to approximately 1,917 sq ft over three floors. The property is let to Countrywide Estate Agents Limited (TA Taylors), who have occupied the premises since 2007 and are currently holding over.

A Section 25 Notice has been served proposing a new 10-year lease at £28,500 per annum, offering significant asset management potential from the current rent of £18,250 per annum.

The property benefits from rear car parking, VAT-free status and longer-term potential to convert the upper floors to residential accommodation, subject to the requisite consents.

Nearby national occupiers include Costa Coffee, Tesco Express, Boots and the Post Office as wall a wide range of local and boutique retailers.

The property occupies a prominent position on the High Street in the affluent market town of Stony Stratford, approximately 5 miles north-west of Milton Keynes. The town benefits from a strong mix of national and independent retailers, cafés, restaurants and local amenities, attracting consistent footfall throughout the day. Nearby occupiers include Costa Coffee, Tesco Express, Boots and the Post Office, together with a variety of established local businesses.

Transport
The property is well located with access to the regional road network via the A5, providing links to Milton Keynes, Towcester and the M1 motorway. Milton Keynes Central Station is approximately 5 miles to the south-east and provides regular services to London Euston, Birmingham and other major UK destinations.
Additional information
Service charge
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Business rates
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Use class
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Listed building
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Energy performance certificate: A

An Energy Performance certificate helps you understand the current energy efficiency of a property.

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Environmental data
BREEAM rating

Unclassified

Environmental description
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Read more about energy considerations for commercial property

Brochure

36 High Street Stony Stratford, Milton Keynes MK11 1AF, 36 High Street, Stony Stratford, Milton Keynes

NEAREST STATIONS

National Rail

Wolverton Station

2.14 miles

National Rail

Milton Keynes Central Station

3.68 miles

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