Guide price
£725,000
(£180.08/sq. ft)
Property for saleThe Old Library Site, High Street, Slough SL1
4,026 sq. ft
Under offer
Available immediately
Leasehold
About this property
The Opportunity Comprises Of Two Let Retail Units
Loading Provision To Rear
Income Generating
9.35% Gross Yield
Location
The Old Library development is located within the centre of Slough, the investment opportunity can be found at ground floor level adjoining the the Moxy and Residents Inn hotels, directly below the Novus Apartments. Positioned opposite the landmark Curve Library and within walking distance of the railway and bus station.
It fronts the High Street and is within close proximity to multiple national and independent retailers, restaurants, Queensmere and Observatory Shopping Centres.
Description
The accommodation can be found at ground floor level and comprises two retail units, with access to common rear hallway and loading provision with refuse area. There is no car parking allocation to the units.
Tenure Comments
The longlease of this investment opportunity is offered for sale, expiring 11th June 2273, (approx 250 years unexpired), paying a peppercorn ground rent.
Both of the units are sublet on effective full repairing and insuring terms, drafted inside the security provisions of the ll&T Act 1954 part II amended.
Unit 1 is let to smw Slough Limited T/A Heavenly Desserts, lease commencing 12th June 2023 for a term of 10 years, with an upward only rent review at the 5th anniversary of the lease term, to expire 4th June 2033, there is a tenant only break clause at the 5th anniversary of the lease term. Rent level available upon request.
Unit 2 is let to Catering Furniture Ltd on a 10 year lease, to expire December 18th 2035, subject to an upward only rent review at the 5th anniversary of the term cap and collared at 2% & 4%, the lease is subject to a mutual break clause at the 5th anniversary of the lease. Rent level available upon request.
The lease terms of the tenants are unaffected by the sale of the long leasehold investment.
Legal Costs
Each party to bear their own professional and legal costs incurred throughout the legal process.
VAT
This investment is elected to pay VAT
Energy Performance Rating
Both units have an A rated EPC.
The Opportunity Comprises Of Two Let Retail Units
Loading Provision To Rear
Income Generating
9.35% Gross Yield
The Old Library development is located within the centre of Slough, the investment opportunity can be found at ground floor level adjoining the the Moxy and Residents Inn hotels, directly below the Novus Apartments. Positioned opposite the landmark Curve Library and within walking distance of the railway and bus station.
It fronts the High Street and is within close proximity to multiple national and independent retailers, restaurants, Queensmere and Observatory Shopping Centres.
Description
The accommodation can be found at ground floor level and comprises two retail units, with access to common rear hallway and loading provision with refuse area. There is no car parking allocation to the units.
Tenure Comments
The longlease of this investment opportunity is offered for sale, expiring 11th June 2273, (approx 250 years unexpired), paying a peppercorn ground rent.
Both of the units are sublet on effective full repairing and insuring terms, drafted inside the security provisions of the ll&T Act 1954 part II amended.
Unit 1 is let to smw Slough Limited T/A Heavenly Desserts, lease commencing 12th June 2023 for a term of 10 years, with an upward only rent review at the 5th anniversary of the lease term, to expire 4th June 2033, there is a tenant only break clause at the 5th anniversary of the lease term. Rent level available upon request.
Unit 2 is let to Catering Furniture Ltd on a 10 year lease, to expire December 18th 2035, subject to an upward only rent review at the 5th anniversary of the term cap and collared at 2% & 4%, the lease is subject to a mutual break clause at the 5th anniversary of the lease. Rent level available upon request.
The lease terms of the tenants are unaffected by the sale of the long leasehold investment.
Legal Costs
Each party to bear their own professional and legal costs incurred throughout the legal process.
VAT
This investment is elected to pay VAT
Energy Performance Rating
Both units have an A rated EPC.
The Opportunity Comprises Of Two Let Retail Units
Loading Provision To Rear
Income Generating
9.35% Gross Yield
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Monthly repayment
£3,626 per month
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