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Lot 11 Click here for addendum

Town Centre Leasehold Commercial Investment
6 Week Completion

Situation

Located at the junction with Oxford Road East in a prominent pedestrianised section of this town centre retail thoroughfare with views of Windsor Castle. Nearby multiple retailers include Gail's, CEX, Tesco Express, Metro Bank, Caffe Nero, Super Dry, River Island, Marks & Spencer and Cancer Research.
Windsor is an historic and affluent market town famous for its links with the Royal Family, Windsor Castle and Eton College for which the town benefits from a significant volume of visiting tourists.
Windsor lies some 25 miles west of central London with good road access with the M4 (Junction 6).

Property

Forming part of a mixed use estate comprising a Large Ground Floor Corner Retail Unit together with Ancillary Accommodation in the Basement. In addition, the property benefits from use of a rear communal loading area.

Accommodation¹

Ground Floor Retail Unit
Total Gross Frontage 100'0''
Area Approx. 2,603 sq ft
Basement
Area Approx. 718 sq ft

Total Area Approx. 3,321 sq ft

¹Not internally inspected by Barnett Ross. Areas taken from VOA.

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Tenancy

The property is let on an effectively full repairing and insuring lease (by way of service charge) to
PJ Restaurants Limited t/a Creams (guaranteed by Southern Pneumatics Limited) (see Tenant Profile) for a term of 15 years from 29th June 2017 at a current rent of £85,000 per annum exclusive.

Rent Reviews June 2022 and 2027

Tenant's Break June 2027

Tenant Profile

The Creams brand trades from circa 100 stores in the UK (visit: www.creamscafe.com) and
PJ Restaurants Limited is a franchisee of Creams.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

3 & 4 Queen Anne’s Court, Peascod Street, Windsor, Berkshire SL4 1DG