Headlease for sale
999 years from 8th September 2016 at a peppercorn ground rent.
The tenant’s sublease
Recently renewed for a term of 5 years starting 1st November 2021, at a passing rent of £12,000.00pa exclusive, with a full repairing and insuring liability, index-linked rent reviews (due in November 2022 and 2025), a tenant’s break option at the end of year 3, lease held outside Part 2 of the Landlord & Tenant Act 1954.
999 years from 8th September 2016 at a peppercorn ground rent.
Recently renewed for a term of 5 years starting 1st November 2021, at a passing rent of £12,000.00pa exclusive, with a full repairing and insuring liability, index-linked rent reviews (due in November 2022 and 2025), a tenant’s break option at the end of year 3, lease held outside Part 2 of the Landlord & Tenant Act 1954
Wantage is located in southern Oxfordshire, approximately 15 miles south west of Oxford at the junction of the A338 and A417, approx. 6 miles west of the A34 Milton Interchange near Didcot. Along with nearby Grove the town is experiencing extensive housing and population growth, which is set to continue for a number of years to come. The shop fronts onto busy Wallingford Street on the east side of the town centre where Wallingford Street is the sole route in and out of the town on that side. The premises are on the south side of the street, in the designated primary shop frontage and conservation areas, opposite a large Waitrose store.
Offers in the region of £145,000 are invited for the long leasehold interest, with each party covering their own costs however arising.
We understand the property is not opted in for VAT therefore the purchase price will not attract VAT.
C/54 (full details on request).
From the Environment Agency’s ”Flood Map for Planning” the shop is indicated as being in an area designated as Zone 1 (Low Risk).
Rateable Value (April 2023) £11,000. The Small Business Rate Multiplier for 2023/24 is0 x 0.499 = £5,489.00 payable by the tenant but, assuming maximum business rates relief applies the tenant’s actual liability should be £Nil.
Vale of White Horse District Council 135 Eastern Avenue, Milton Park, Abingdon OX14 4SB Tel: 01235 422422
Strictly by prior appointment please with the sole agent, Green & Co Commercial and Development Agency, Monday to Friday 9am to 6pm only. Tel. 01235 763561 ref. RH or e-mail: robin.heath@greenand.co.uk
1. The freehold to the whole building, which includes 1st and 2nd floor flats over, is owned by a third party and is not for sale. 2. The flats are completely self-contained and independently accessed from the rear of the building. 3. The shop is also accessible from the rear, via a shared passageway off Wallingford Street to the right of the premises.
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