Retail premises for sale

Location: Newport Pagnell is an historic, thriving market town in the north-east of Buckinghamshire, situated approximately six miles to the north of Milton Keynes. It has easy access to Junction 14 of the M1 motorway; 20 minutes drive from both Bedford and Northampton, and within a 10 minute drive from the main railway station in Milton Keynes. Newport Pagnell has attracted an increasing amount of investment and of economic growth, due to its fortunes being intertwined with the growth of Milton Keynes. This has led to a number of new housing developments in the area. Newport Pagnell attracts a great deal of passing trade and the High Street offers a wide selection of shops, pubs, restaurants and ample free car parking.

The property: The property occupies a prominent location on the High Street, opposite Costa Coffee and Willen Hospice, and close to the Post Office, The Swan Revived Hotel and other local independent retailers. It is of traditional construction arranged over three floors offering retailing to the ground floor of 832 sq ft and a two-bedroom residential flat above.

Tenancy:
The ground floor shop is let to Out of Office Coffee Limited on a 10 year iri lease + shop front lease from 21st July 2017, subject to a break option at the end of the fifth year. The current passing rent is £15,000 pax. The two bedroom flat above is held on a 125 year lease from 28th March 2002.

Proposal: We are instructed to offer our client's freehold interest for sale at a guide price of £230,000 exclusive of VAT, subject to contract. The sale could be treated as a togc.