FOR SALE BY ONLINE AUCTION!! Date TBC (unless sold beforehand)
A portfolio of four commercial properties. FULLY LET. FOR SALE AS A SINGLE LOT
Unique Commercial Investment in Wokingham town centre (existing businesses not affected)
Summary of Lease details below – further information in Legal Pack.
The Sellers are proposing a sale by online auction but will consider offers beforehand.
Summary of CEPC: 47 Denmark St – 57C, 47a Denmark St 46B, 49 Denmark St – 63C
51 Denmark St – 52C. Full details including RR in the legal pack.
Predicted Broadband: Ultrafast 5500 Mbps for both upload and download
The Solicitors: Ashfords LLP, Ashford House, Grenadier Road, Exeter EX1 3LH
Contact: Charlotte Hill Tel: 01392 333912 Email: c.hill@ashfords.co.uk
Location
DESCRIPTION/LOCATION: A portfolio of 4 properties comprising “a pair of Grade II listed cottages dating from the early 19th century,” a Grade II Listed building and a modern office building all with the benefit of on site car parking. Located at the southern end of of Denmark Street close to the new leisure hub and adjoining the recently re-developed Elmsfield. Good car parking nearby.The A321 within about 400 yards and the A329 about half a mile offer good road links to the M3 and M4 and neighbouring towns including Reading, Bracknell, Maidenhead and Twyford. The railway station about ¼ mile offers regular services between Reading – Waterloo and also on the Guildford/Gatwick line.
Tenure: Freehold subject to 4 leases.
Brief description and summary of the accommodation:
47 Denmark Street: A Grade II Listed building dating from the early 19th century and altered in the 20th century. On the first floor 2 rooms, on the ground floor 2 rooms occupied by barbers also with a rear lobby including a kitchenette and toilets beyond. Door to car park.
Let to Mario’s J Barbers on a lease for a term of 5 years from 28th February 2022 with a passing rent of £8,820 per annum, payable quarterly on the usual rent days. Landlord and Tenant Act excluded.
49 Denmark Street: Grade II Listed building dating from the early 19th century and altered in the 20th century. On the first floor 2 rooms. On the ground floor 2 treatment rooms.
Let to Wokingham Therapy Clinic Limited for a term of 5 years from 1st August 2023 with a passing rent of £8,900 per annum, payable quarterly on the usual rent days. Landlord and Tenant Act excluded.
Longstaff House 47a Denmark Street: A stylish self-contained detached office building of about 1200 sq ft. First floor includes 2 partitioned offices and WC, ground floor mainly open plan office accommodation, toilet and kitchen. The offices are carpeted throughout with the benefit of a suspended ceiling and recessed Cat 2 lighting and double glazing. Electric storage heaters on both floors.
Let to Custodian 360 Limited for a term of 5 years from 1st July 2026. Initial rent £22,000 per annum increasing to £23,000 per annum from 1st July 2029 – 30th June 2030 and £24,000 per annum from 1st July 2030 to the end of the contractual term, payable quarterly on the usual rent days. Landlord and Tenant Act excluded.
51 Denmark Street: A Grade II Listed building originally in residential use. Believed to date from the late 16th century, altered during the 18th and 19th centuries and substantially extended in the late 20th century. Character staircase in the original building and more modern easy rising staircase in the extension. Beautifully appointed with modern two storey rear extension. About 2200 sq ft, plus 3 attic rooms in the original building. First floor: 5 ofices/consulting/treatment rooms, a further room along with changing rooms, shower and toilet. The ground floor: generous size retail area with a commanding window overlooking Denmark Street. There are an additional 4 spaces currently used for retail/storage along with an office, kitchen, shower room and toilets. The principal access is from the rear of the building where there are courtyard style gardens and 4 car parking spaces.
Let to Just Around the Corner (JAC) Ltd for a term of 3 years from 11th June 2024 with a passing rent of £25,667 per annum, payable quarterly on the usual rent days. Landlord and Tenant Act excluded.
Car parking: The vehicular access to the car parking is immediately alongside this building.
Utilities: All mains services are connected to the site although not necessarily to all properties.
VAT: VAT is charged on the rents and therefore will be added to the sale price of Longstaff House and 51 Denmark Street.
Ownership: The sale price will be apportioned to reflect the different ownerships (within the same family) and the VAT liability.
Insurance: The Landlord insures the buildings with each Tenant liable to reimburse an agreed apportionment.
Local Authority: Wokingham Borough Council.
For further information please contact Martin & Pole, Wokingham, Tel: 0118 978 0777, Email: wokingham@martinpole.co.uk
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.
IMPORTANT NOTICES
Identification of the Buyer
To accord with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002 as amended:
For online auctions: To register no less than 24 hours before the start of the auction on the AMS platform (accessed via our website) which requires proof of ID to accord with the above regulations. The registered bidder, if successful, is the Buyer. If it is intended there should be two or more parties or a company bidding, the regulations apply to all parties including company directors.
For Public Auctions: The same regulations apply, with registration no less than one hour before the start of the sale.
Buyer’s Fee
A charge of £1,500 (inc VAT), payable only by the successful Buyer, will be due to the Auctioneers Martin & Pole. An appropriate VAT receipted invoice will be issued.
Signing the Memorandum, Payment of the Deposit and Buyer’s Fee
The Auctioneer is authorised to sign the Memorandum/Contract on behalf of the Buyer. The successful bidder at an online auction is liable to pay the deposit and the Buyer’s Fee of £1,500 inc vat at the conclusion of the sale or for a sale by public auction, on the fall of the hammer. The deposit and Buyer’s Fee should be paid directly into the allocated Martin and Pole Client B account.
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 they have satisfied themselves as to the correctness of each of the said statements by said Agents in relation to or in connection with the property.