35a High St, High Wycombe, Buckinghamshire HP11 2AG

Freehold Retail Investment / Development Opportunity Investment Summary

❑ Attractive Freehold Bank Investment ❑ The property occupies a prime trading position next to WH Smith and in close proximity to Boots the Chemist, McDonald’s, Argos and Costa Coffee ❑ Unbroken freehold with the upper parts in tact ❑ Whole property let to Halifax PLC on a FRI lease expiring in Aug 2023 ❑ Opportunity to re-gear the occupational lease and take back the upper parts to convert to residential (stpp) or alternatively extend the first floor ❑ Total income £82,500 per annum ❑ Seeking offers in excess of £1,250,000 which is 6.25% net initial yield LOCATION High Wycombe is an affluent market town in the county of Buckinghamshire set within The Chiltern Hills – an area of outstanding natural beauty. It is situated approximately 33 miles north west of Central London, 30 miles South East of Oxford and 10 miles north of Maidenhead. The town benefits from excellent road communications being 1.8 miles from Junction 4 of the M40 Motorway and 9 miles west of Junction 16 of the M25. London Marylebone to High Wycombe is 27 minutes

SITUATION The subject property is well located in the pedestrianised section of the High Street occupying a prime corner location adjacent to WH Smith with many multiple retailers in the vicinity including Boots, Santander, Iceland, Coral and Costa Coffee

DESCRIPTION The property is an end of terrace 2 storey period building of masonry construction under a pitched tiled roof. The property is accessed from both the ground floor front and the upper parts can be accessed from the side alley.

TENURE AND TENANCY The property is held FREEHOLD and is let in its entirety to Halifax PLC on a 15 year lease from August 2008 at a rent of £82,500 per annum exclusive

VAT DEVELOPMENT POTENTIAL VAT will NOT be applicable on this sale There is potential (subject to planning permission) to develop part of the first floor which is approximately 40% smaller than the ground floor. Alternatively a deal could be negotiated with the Tenant at lease expiry to take back the upper parts to convert (and extend) to residential

35a High Street, High Wycombe, Bucks FLOOR AREAS

Floor NIA Sq m NIA Sq ft

Ground Banking Hall / 271.73 2,925 Ancillary Basement Ancillary 12.54 135

First Ancillary 190.91 2,055

Second Ancillary 36.23 390

TOTAL 279.53 3,009

GUIDE PRICE

We are instructed to seek offers in excess of £1,250,000 which reflects a NIY of 6.25%

FURTHER INFORMATION

For further information or to arrange a viewing

Mark Hoffman Damien Field Robert Irving Burns Robert Irving Burns [email protected] [email protected]

0207 927 0634 0207 927 0620

Subject to Contract February 2019

35a High Street, High Wycombe, Bucks