19-21, Bell Street, Henley-on-Thames, RG9 2BA

The three storey property consists of a ground floor retail unit let to Aspen Phoenix Newco Ltd T/A Paperchase, with the upper parts having been granted planning permission for residential conversion in March 2017 (Now expired) for 3 x 2 bed flats with external amenity space -P16 S/3349/FUL. The ground floor is let on an effective internal repairing and insuring basis for a term of 5 years from 1st April 2021. A mutual break clause on the third anniversary subject to six months notice. The lease is held outside the Landlord and Tenant Act 1954. Passing rent £70,000 per annum which equates to £ 78.97 per ft2 ITZA. Ground floor retail area 3,109 sq ft. Net initial yield of 6.75% (assuming purchasers costs of 5.8%) exclusive of any VAT to the retail investment element of the property.

Location
Henley-on-Thames is a vibrant market town on the River Thames. With its abundance of independent shops a selection of national chains and a thriving range of restaurants bistros, cafes and pubs. The subject property occupies a 100% prime retail location on Bell Street, the principle retail position in Henley-on-Thames.

Accommodation
Ground floor Retail - 3,109 sq ft First & Second floors - currently vacant Planning Permission P16/S3349/FUL March 2017 (now lapsed) Granted for 3 x 2 bed flats Flat A 753 sq ft Flat B 807 sq ft Flat C 1022 sq ft (Duplex) 3109 sq ft

Energy Performance Certificate (EPC)
The EPC Rating is D

VAT
VAT is payable in respect of this property.

Legal Costs
Each party is to be responsible for their own legal costs incurred in this transaction.

Terms
Freehold available with the existing lease to Aspen Phoenix at £1.65m. Equating to an initial yield of 6.75%

Rates
Interested parties should make their own enquiries directly with South Oxfordshire District Council on 0845 300 5562.

Viewing Arrangements
Strictly by appointment with the Sole Marketing Agents: John Jackson or Oliver Quinn Henley-on-Thames office Tel: 01491 571111 Email: commercial@simmonsandsons.com