The property comprises a very attractive three storey building with the benefit of A1/A3 mixed planning consent. Gail’s are shop-fitting with a view to opening soon. Prior to the alterations the premises consist of ground floor sales with first floor casual seating areas and kitchen plus private offices and staff areas at second floor. Customer WCs are located at ground and second floors and there is a service core at the rear.
( Agency Pilot Software Ref: 243 )
Location
Peascod Street is the primary retail street in Windsor and No 95 is positioned on the west side within the pedestrianised section between the main entrance into Windsor Yards and Oxford Road. Nearby retailers include Laura Ashley, Caffe Nero, JoJo Maman Bebe and many independent retailers and restaurants.
Until recently, occupied by Jungs Patisserie, the property has now been let to Gail’s Bakery who are shop-fitting currently.
Accommodation
Ground floor: 116.7 sq m (1,256 sq ft)
First floor: 89.8 sq m ( 967 sq ft)
Second floor: 54.7 sq m ( 589 sq ft)
Basement store: 35.3 sq m ( 380 sq ft)
Total: 296.5 sq m (3,192 sq ft)
Terms
We are seeking offers in excess of £950,000 for the freehold interest.
TENANCIES
The premises are let on a FRI lease for a term of 15 years to 8th December 2034, with 5 yearly rent reviews and a tenant’s break option in 2029, at a commencing rent of £60,000 p.a.x. Gail’s Ltd’s accounts to Feb 2019 showed a turnover of £47m, pre-tax profits of £1.15m and fixed assets of £15m. They have 58 stores across London & the South East.
EPC - Shop: C (63)
LEGAL COSTS
Both parties’ legal costs to be borne by the purchaser.
Specification
- NEWLY LET TO GAILS
- OPENING SOON
- PEDESTRIANISED TRADING LOCATION
- 6% NET INITIAL YIELD