The Broadway, 15 Penn Road, Beaconsfield, HP9 2PD

FREEHOLD MIXED USE INVESTMENT WITH DEVELOPMENT OPPORTUNITY FOR SALE

PROMINENT TOWN CENTRE LOCATION
FULLY OCCUPIED WITH 3 TENANTS COMPRISING VETERNINARY PRACTICE, BEAUTY SALON AND TUITION BUSINESS
6.7 % NET YIELD ON CURRENT INCOME
VAT ELECTED
DEVELOPMENT POTENTIAL SUBJECT TO PERMISSIONS

LOCATION
The premises are located on the B474 Penn Road, the main High Street running through Beaconsfield New Town, opposite The Beech house restaurant and within a retail parade that is due to include the popular Megan's restaurant. Private parking is at the front and rear as well as short term public parking in the adjacent layby and in the public car park at Warwick Road. Junction2 of the M40 motorway is approximately 2 miles away and the Chiltern Line serving London Marylebone and Birmingham is within a short walk.

DESCRIPTION
The two storey building contains 2 units at ground floor, and office/tuition suite at first floor with own street entrance. There is a forecourt parking area allocated to the front unit and 6 private parking spaces at the rear (divided equally between the 3 units), accessed via barrier entry system. Approx net
internal areas as follows:
First floor: Offices: 78 sm (841 sf)
Ground floor: Front shop: 90.5 sm (974 sf)
Rear salon: 76.4. sm (822 sf)

TENANCIES
Ground floor front let to Independent Vetcare Limited t/a The Wheelhouse Veterinary Centre, with Guarantee from IVC Acquisition Limited, on a 15 year effectively FRI lease from 1 December 2018 without breaks, at a passing rent of £32,000 pax with next rent review in December 2028. Rent
deposit of £9,600 is held.

Ground floor rear salon - Let to Lavender and Stone Beauty Rooms Ltd t/a The Cove on an IRI lease expiring 31 July 2025 at a passing rent of £16,020 pax. The lease benefits from security of tenure and renewal notices have not yet been served.

First floor office/tuition let to Kick Start Learning with Kerry Limited on an IRI lease from July 2024 with tenant-only break at 3 years and contracted out of The Act at a rent of £22,500 pax. Rent deposit of £6,750 is held subject to profits test.

Total rents: £70,520 pax

EPCs
Front Shop: C Rear Salon: TBC First floor: D

TERMS
Offers in excess of £1 million (+ VAT if applicable) for the freehold interest subject to the tenancies. The property is elected for VAT but this transaction may be arranged as a Transfer of a Going Concern which may obviate the need to add VAT to the purchase price.

VIEWINGS
Dan Collins at PMCD 01494 683643 dan@pmcd.co.uk
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