Investment Properties: 13 High Street, High Wycombe HP11 2BE
13 High Street, High Wycombe HP11 2BE
OIEO £550,000 subject to contract
- Centrally located within High Wycombe Town Centre and a 3 minute walk of High Wycombe railway station.
- The property is located in a prominent corner position, fronting the High Street.
- The interest for sale comprises the ground floor which is let to Ladbrokes Betting & Gaming Ltd t/a Coral Bookmakers on a new 5 year lease at £50,000 per annum, subject to a tenants only break option at the third anniversary of the lease.
- The upper parts are arranged as seven flats which are sold off on 125 year leases from January 2006, producing a ground rent income of £1,406 per annum.
- The rear of the ground floor is sold off on a 999 year lease at a peppercorn.
- Total passing rent - £51,406 pa.
- We understand the unit comprises approximately 1,136 sq ft.
- The building is elected for VAT but we understand this sale can be treated as a TOGC.
- We are instructed to seek offers in excess of £550,000 (Five hundred and fifty thousand pounds) plus VAT subject to contract.
- This equates to Net Initial Yield of 8.91% after assuming standard purchaser’s costs of 4.89%.