The Broadway, Thatcham, Berkshire, RG19
£130.89 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
7,067 sq ft
657 sq m
- SECTOR
High street retail property for sale
Key features
- Mixed-use freehold building comprising 3 x retail units and 1 x 3-bedroom flat extending to approximately 7,067ft²
- Part let to 2 tenants (including Morrisons Daily) producing £63,500pa offering potential for rental growth with an ERV of circa £86,700pa
- Lapsed planning permission for conversion and extensions to vacant areas to create 4 x residential units
- Offers invited in excess of £925,000 which reflects £130psf on the existing areas
Description
The property comprises a mixed-use freeholding building arranged over 2-storeys extending to approximately 7,067ft² in total.
The ground floor comprises 2 x retail units to the front with a retail unit located to the rear accessed via the side of the building.
The first floor comprises a 3-bedroom flat and ancillary retail storage areas.
LOCATION:
The property is located along The Broadway, adjacent to the Kingsland Centre, in the Centre of Thatcham, Berkshire.
The Kingsland Centre provides the primary retail offer for Thatcham comprising 18-unit scheme anchored by a 29,000ft² Waitrose store.
The nearest train station is Thatcham which is 1 mile from the property providing services into London Paddington in 43 minutes.
PLANNING & DEVELOPMENT:
Planning permission was granted in November 2019 (reference: 19/02236/FUL) but subsequently lapsed for the change of use of the rear retail unit, first floor residential and retail space as well as single storey extensions to create 4 x residential units.
The development works did not commence due to existing tenancies that were in place at the time.
The property offers potential for redevelopment by way of converting the first floor and potentially creating additional storeys subject to obtaining the necessary consents.
TENANCY:
54 The Broadway is occupied by Papadom who are currently holding over and paying £14,500pa.
55 The Broadway is let to Alliance Property Holdings Limited (trading as Morrisons Daily) on a new FRI lease for 10 years from January 2024 at a passing rent of £49,000pa without any break clauses.
The rear retail unit and 3-bedroom flat are both currently vacant.
TENURE:
The property is being sold on a new 250 year lease at a peppercorn rent.
VAT:
We understand the property is elected for VAT and the transaction can be carried out as a Transfer Of Going Concern (TOGC).
TERMS:
Offers invited in excess of £925,000 which reflects £130psf on the existing areas.
Brochures
The Broadway, Thatcham, Berkshire, RG19
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Thatcham Station0.9 miles
- Newbury Racecourse Station2.2 miles
- Newbury Station2.9 miles
About Kingsbury, London
32-34 Baker Street Weybridge Surrey KT13 8AU
Notes
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