For Sale - Freehold
Freehold retail investment in Wantage
£285,000

A detached, Grade II Listed Building situated in Wantage town centre, comprising
two self-contained retail units under Use Class E: Commercial, Business

General description

A detached, Grade II Listed Building situated in Wantage town centre, comprising two self-contained retail units under Use Class E: Commercial, Business & Service (see also Agent’s notes below regards a recent planning consent.)

Location

The historic market town of Wantage, along with nearby Grove, is located in affluent southern Oxfordshire and both are growing rapidly in population terms which is set to continue for several years yet. Wantage is approximately 15 miles southwest of Oxford at the junction of the A338 and A417, approx. 6 miles west of the A34 “Milton interchange” near Didcot. The premises are located on the west side of busy Newbury Street which is the sole route in/out of the town centre from the south, adjacent to the junction with Church Street and a short walk from the public car park off Church St. Postcode OX12 8BS.

Information

The part ground and part upper floor restaurant (trading as Peking Dynasty) Presently let under a regular Landlord & Tenant Act ‘54 lease and yielding a rent of £xx,000pa exclusive. The part ground and part upper floor unit, presently vacant Ground floor (see photo overleaf) – 4.06m x 2.41m = 9.78sq.m/105sq.ft plus 3.31m x 2.77m/ = 9.17sq.m/99sq.ft – I said it was quirky! - with an inner lobby off leading to a unisex WC. Upper floor –

Price guide and terms

Unconditional offers are invited based on a guide price of £285,000 for the freehold interest. VAT

VAT

We understand that VAT is not payable in addition to the purchase price

Business Rates (payable by the occupiers)

Rateable Values (April 2023) - Vacant shop £4,500, restaurant £7,300. Te Small Business Rate Multiplier for 2024/25 is x 0.499 (= £2,495.00 and £3,642.70 payable) but, as the RVs are below £12,000 the occupiers should benefit from Small Business Rate Relief meaning £Nil rates payable.

Utility services

All mains services are connected to the building. Telephone/broadband services are as existing.

Energy Rating

E/120. Full details available on request.

Local planning and rating authority

Vale of White Horse District Council Abbey House, Abbey Close, Abingdon OX14 4SE Tel: 01235 422422

Viewing

By prior arrangement with the sole selling agent, Green & Co Commercial and Development Agency, Monday to Friday only between 9am and 6pm. Tel. 01235 763561 ref. RH or email robin.heath@greenand.co.uk

Agent’s notes

1. The building is located in the designated Conservation Area. 2. VWHDC planning reference is P23/V1173/LB, consent was dated 12th July 2023. This validated the proposed change of use to a restaurant and associated alterations. 3. Compliance with the UK’s Money Laundering Regulations 2017 requires all offers to purchase to be verified regarding the source of funds and the identity of the ultimate beneficial owner. 4. Photographs below are of the vacant shop.