Guide price
£575,000
(£230.46/sq. ft)
Office for sale37 & 37A High Street, Witney, Oxfordshire OX28
2,495 sq. ft
Just added
Freehold
About this property
Excellent Investment Opportunity
Two Independent Ground Floor Retail Units
10 Year Leases To 2031 & 2034
First Floor Offices (Currently Vacant)
Prominent Position
High Street Location
Location
With excellent transport links to the M40 and national motorway network, Witney is conveniently located on the A40 approximately 12 miles west of Oxford and 24 miles east of Cheltenham. Travelling into the town from the A40 heading north onto the A415 Ducklington Lane, proceed to the roundabout and take the 3rd exit onto Welch Way, proceed approximately 800 yards and turn left onto the High Street. 37 & 37a will be found approximately 80 yards on the left next to Stacey & Mason Solicitors, opposite Sassi Ladies Fashion shop.
Witney is a vibrant market town offering a variety of national and local retailers and is a popular destination for shoppers. Situated on the River Windrush, it is renowned for its beautiful medieval Church, the historic Buttercross building and Church Green.
Description
The property comprises 2 independent ground floor shops both let out under commercial business leases. Vacant offices are located across the first floor and accessed via their own independent front door off the High Street. The property is currently producing an annual rent of £41,350.00 per annum.
Accommodation
37 High Street (Ground Floor Betting Shop): -
Retail Area: 58' x 16'4'' average
Kitchen: 9'9'' x 6'10''
WC
Total N.I.F.A. Approx. 995 sq.ft. (92.52 sq.m.)
37a High Street (Ground Floor Cafe): -
Front Retail Area: 43'10'' max x 13'5'' max
Rear Retail Area: 13' x 9'3''
Kitchen / Food Prep: 8'8'' x 8'6''
WC
Total N.I.F.A. Approx. 690 sq.ft. (64.1 sq.m.)
1st Floor Offices, 37 High Street: -
5 x Offices
Kitchen
Ladies WC
Gents WC
Total N.I.F.A. Approx. 810 sq.ft. (75.25 sq.m.)
Existing Business Lease Terms
37 High Street: -
Tenant - Ladbrokes Betting & Gaming Limited.
Term -10 years from 28th April 2021.
Rent - £23,850.00 per annum exclusive.
Repairs - Tenant responsible for internal repairs and shopfront.
Service Charge - 31% of costs of repairing, maintaining and decorating the structural parts of the building and service media.
Rent Review - The Landlord and Tenant have agreed to remove this provision from the lease.
Tenant Break Option - The Landlord and Tenant have agreed to remove this provision from the lease.
Utilities & Business Rates - Tenant's responsibility.
1st Floor Offices, 37 High Street: -
The offices are currently vacant and require full refurbishment.
37a High Street: -
Tenant - Miguel Marques and Sara Marques.
Term - 10 years from 28th November 2024.
Rent - £17,500.00 per annum exclusive.
Repairs - Tenant responsible for internal repairs and shopfront.
Service Costs - A fair & reasonable proportion of repairs & maintenance of walls, roof and exterior of the Building (excluding plate glass).
Rent Review - 28th November 2029.
Break Option - None.
Utilities & Business Rates - Tenant's responsibility.
Business Rates
37 High Street
Rateable Value - £19,250.
37a High Street
Rateable Value - £13.500.
1st Floor Offices, 37 High Street
Rateable Value - £11,500.
Local Authority
West Oxfordshire District Council, Council Offices, Witney, OX28 1NB. Tel:
Energy Performance Certificate
The properties have the following EPC ratings.
37 High Street - D
37a High Street - B
1st Floor Offices - An EPC has been commissioned.
Guide Price
Guide Price - £575,000.
VAT
VAT is not payable .
Anti-Money Laundering Regulations and idv
Marriotts Property llp will carry out aml checks on all purchasers to comply with current legislation, and as such will need to verify id documents to prove identity and proof of address.
With excellent transport links to the M40 and national motorway network, Witney is conveniently located on the A40 approximately 12 miles west of Oxford and 24 miles east of Cheltenham. Travelling into the town from the A40 heading north onto the A415 Ducklington Lane, proceed to the roundabout and take the 3rd exit onto Welch Way, proceed approximately 800 yards and turn left onto the High Street. 37 & 37a will be found approximately 80 yards on the left next to Stacey & Mason Solicitors, opposite Sassi Ladies Fashion shop.
Witney is a vibrant market town offering a variety of national and local retailers and is a popular destination for shoppers. Situated on the River Windrush, it is renowned for its beautiful medieval Church, the historic Buttercross building and Church Green.
Description
The property comprises 2 independent ground floor shops both let out under commercial business leases. Vacant offices are located across the first floor and accessed via their own independent front door off the High Street. The property is currently producing an annual rent of £41,350.00 per annum.
Accommodation
37 High Street (Ground Floor Betting Shop): -
Retail Area: 58' x 16'4'' average
Kitchen: 9'9'' x 6'10''
WC
Total N.I.F.A. Approx. 995 sq.ft. (92.52 sq.m.)
37a High Street (Ground Floor Cafe): -
Front Retail Area: 43'10'' max x 13'5'' max
Rear Retail Area: 13' x 9'3''
Kitchen / Food Prep: 8'8'' x 8'6''
WC
Total N.I.F.A. Approx. 690 sq.ft. (64.1 sq.m.)
1st Floor Offices, 37 High Street: -
5 x Offices
Kitchen
Ladies WC
Gents WC
Total N.I.F.A. Approx. 810 sq.ft. (75.25 sq.m.)
Existing Business Lease Terms
37 High Street: -
Tenant - Ladbrokes Betting & Gaming Limited.
Term -10 years from 28th April 2021.
Rent - £23,850.00 per annum exclusive.
Repairs - Tenant responsible for internal repairs and shopfront.
Service Charge - 31% of costs of repairing, maintaining and decorating the structural parts of the building and service media.
Rent Review - The Landlord and Tenant have agreed to remove this provision from the lease.
Tenant Break Option - The Landlord and Tenant have agreed to remove this provision from the lease.
Utilities & Business Rates - Tenant's responsibility.
1st Floor Offices, 37 High Street: -
The offices are currently vacant and require full refurbishment.
37a High Street: -
Tenant - Miguel Marques and Sara Marques.
Term - 10 years from 28th November 2024.
Rent - £17,500.00 per annum exclusive.
Repairs - Tenant responsible for internal repairs and shopfront.
Service Costs - A fair & reasonable proportion of repairs & maintenance of walls, roof and exterior of the Building (excluding plate glass).
Rent Review - 28th November 2029.
Break Option - None.
Utilities & Business Rates - Tenant's responsibility.
Business Rates
37 High Street
Rateable Value - £19,250.
37a High Street
Rateable Value - £13.500.
1st Floor Offices, 37 High Street
Rateable Value - £11,500.
Local Authority
West Oxfordshire District Council, Council Offices, Witney, OX28 1NB. Tel:
Energy Performance Certificate
The properties have the following EPC ratings.
37 High Street - D
37a High Street - B
1st Floor Offices - An EPC has been commissioned.
Guide Price
Guide Price - £575,000.
VAT
VAT is not payable .
Anti-Money Laundering Regulations and idv
Marriotts Property llp will carry out aml checks on all purchasers to comply with current legislation, and as such will need to verify id documents to prove identity and proof of address.
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