FOR SALE BY ONLINE AUCTION probably September/October (unless sold beforehand) A Commercial Investment – Let and Producing an income of £20,000 per annum. Prominent Position opposite The Clock House – edge of pedestrianised shopping centre.
Lease for a Term of 10 years from 2nd March 2023.
Location
DESCRIPTION / LOCATION: A Grade II Listed building (formerly known as Old Oak Parlour) with late 18th century refronting of an older building. Features include good original double shop front with segmental bowed shop windows with small panes, narrow pilasters, and projecting cornice. The shop doorway includes a rectangular fan light and panelled door. At the rear the two-storey brickwork with wide weavers’ windows to first floor with small panes. The property has painted brickwork beneath a tile roof with brick ridge stack. A prominent and outstanding location by The Clock House and at the junction of Oxford Street, London Road, and The Broadway and on the edge of the successful pedestrianised shopping centre.
The property was reroofed about 10 years ago and the details are in the Legal Pack with some more recent new sash windows.
Newbury is a thriving market town on the western outskirts of Berkshire. The Broadway and Northbrook Street are two of the principal shopping streets in the Town Centre, leading to Bridge Street which passes over the Kennet Canal into Market Place. Newbury Town Centre is an outstanding commercial centre with a wide range of shop and office occupiers, the home to the Newbury Building Society with the wide streets and Market Place often hosting special events attracting visitors from neighbouring towns and villages. There are car parks within a quarter of a mile.
TOWN AND COUNTRY PLANNING: Current use – Class E Commercial, Business and Service.
Accommodation over three floors
FLOOR AREA: Taken from VOA website. Ground floor retail and offices (59.1 sq m), first floor office (33.2 sq m), second floor offices/storage (17.1 sq m).
RATEABLE VALUES: £16,000 – The Ground Floor. £8,500 - The Upper Floors.
EPC: D88
SERVICES: Mains water, electricity, gas, and drainage.
TENURE: Freehold subject to a Lease for 10 years from 2nd March 2023. No break clause.
LOCAL AUTHORITY: West Berkshire Council
VIEWING: By appointment with the Owner’s Sole Agents and Auctioneers, Martin & Pole, Wokingham
Accommodation
2 beauty treatment rooms on the ground floor – 1 large treatment area at the front with 1 other separate treatment room behind at the rear of the building.
On the first floor, reception area and a separate Aesthetic/treatment room at the front of the building with kitchen and 2 toilets.
Second floor, two further rooms currently used as storage.
Terms
THE CONDITIONS OF SALE: are included in the Legal and Information Pack available from the Auctioneers prior to the Auction Sale and online at www.martinpole.co.uk. A copy of the Conditions of Sale will be attached to these Particulars to form part of the Contract.
* Property Auctioneers are required by the ASA to explain to prospective buyers the definitions of Price Guide and Reserve. The Reserve is the minimum price set by the seller at which the auctioneer can sell the property. The reserve can be set and agreed at any point up to the start of the auction or indeed can be changed during the auction. The reserve can be lower than the guide price, the same as the guide price or up to 10% above the guide price. In accordance with ASA guidelines the guide price can be changed at any time up to and including the day of the auction sale. If the guide price is changed we will endeavour to advertise the new guide price at the earliest opportunity. A list of final guide prices will be published in the auction room immediately prior to the sale. This may be the first opportunity to publish changes.
IMPORTANT NOTICES
Identification of the Buyer
To accord with the Money Laundering Regulations 2003 and the Proceeds of Crime Act 2002:
No later than the date of the auction when the Memorandum of Agreement of the sale and purchase is to be signed, we are required to see and keep copies of documentary evidence of the Buyer's identity and address. If you intend to bid please contact us for further information of the documents required to be produced (full details of which are also given in the Information Pack available for intending Buyers) or if you prefer to register beforehand.
Buyer’s Fee
A charge of £750 (plus VAT), payable only by the successful Buyer, will be due to the Auctioneers, Martin & Pole, upon signature of the Memorandum of Agreement of the sale and purchase. An appropriate VAT receipted invoice will be issued immediately after the day of the auction sale
Signing the Memorandum, Payment of the Deposit and Buyer’s Fee
The Buyer(s) will be required to sign Memorandum of Agreement attached to these Particulars, to pay the Deposit and Buyer’s Fee immediately after the fall of the hammer. Payment of the deposit will only be accepted if made by cheque or bankers draft drawn on the account of the named Buyer and drawn on a UK clearing bank.
Property Details
We have endeavoured diligently to ensure the details of this property are accurate. We have not tested the services, appliances or fittings (if any) referred to in the details.
We recommend that each of the statements is verified and the condition of the property and of the services, appliances and fittings (if any) is investigated by you or your advisers before you finalise your offer to purchase, bid for the property or enter into a contractual commitment.
Stipulations
The property is sold with all faults and defects whether of condition or otherwise and neither the Seller nor the Agents of the Seller are responsible for any faults or defects or for any statements contained in the Particulars of the property prepared by the Agents.
The Buyer hereby acknowledges that he has not entered into this Contract in reliance on any of the said statements and he has satisfied himself as to the correctness of each of the said statements by said Agents in relation to or in connection with the property.