Oxford Court, 21-23 The Broadway, Newbury, West Berkshire, RG14 1AS
- SIZE
4,517 sq ft
420 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
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Key features
- Town Centre Retail Investment
- Current rent £29,700 per annum exclusive
Description
Located in the affluent and attractive market town of Newbury in the County of Berkshire.
Newbury is the main commercial centre for West Berkshire.
The local economy is inter-related to the M4 corridor which has numerous industrial, logistical, research and office business parks including the headquarters of Vodaphone. It has a resident population of approx 40,000 with a retail catchment of approx 115,000 and is rated within the top 10 most affluent towns on the Promis PMA indicator.
The town benefits from excellent road and rail communications and is served by the A34/ A339 which provides access to neighbouring towns of Oxford, Reading and Basingstoke. Newbury mainline Railway Station is on the Paddington / Penzance line.
Description
21 - 23 The Broadway is arranged over ground, first and part second floor. The building constructed of brick with a pitched tiled roof.
The ground floor comprises modern ground floor retail unit with the upper floors converted to residential accommodation
To the rear of the building there are 4 parking spaces with a further 7 parking spaces located within the Oxford Square private car park
The Residential Upper Parts are sold off on long leases of 125 years from 1/1/2013 with ground rents payable of £200 per annum each
The ground floor is let to Roderick Anthony Limited for a term of 10 years from the 1st April 2024. The rent currently payable is £24,000 per annum exclusive but this rises to £25,000 in April 2027 with a rent review in 2029. The tenant has been in occupation since 2013.
5 Parking spaces are rented out to local companies producing £5,100 per annum exclusive.
The total income is currently £29,700 per annum exclusive rising to £30,700 per annum exclusive in April 2027.
Proposal
We are seeking offers in excess of £275,000, which reflects a Net Initial Yield of 10.3% rising to 10.68% in April 2027.
The property is owned in a Special Purpose Vehicle (SPV) which can be purchased saving stamp duty making the initial net return in the region of 10.7%.
VAT is applicable
Viewing
Contact Shane Prater on or Email
Service Charge
A service charge is payable for the property to include the car park. The current service charge for the estate is £3,406.38 plus £2,211 for the car parking. These costs are paid by the tenants.
Brochures
Current Brochure- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Private
- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
Oxford Court, 21-23 The Broadway, Newbury, West Berkshire, RG14 1AS
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Visit our security centre to find out moreDisclaimer - Property reference 5726FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Quintons, Newbury. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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