High Wycombe - 97 London Road

Location:

High Wycombe is busy commercial centre in South Buckinghamshire. The town is located 30 miles (48 kms) north west of Central London, 26 miles (42 kms) south east of Oxford and 23 miles (37 kms) north east of Reading. High Wycombe is a combination of industrial and market town, with traditional emphasis on furniture production.

The town enjoys excellent road communications being conveniently located close to the M40 motorway with access at both Junctions 3 and 4. The M40 provides direct access Oxford, Birmingham and Central London (via A40). The M25 is located 10 miles (16 kms) to south east which in turn provides access to the rest of the UK motorway network. High Wycombe railway station provides frequent services to Central London (Marylebone) with a fastest journey time of 23 minutes, Oxford in a journey time of 40 minutes and Birmingham (New Street) in 1 hour 20 minutes.

  • Situation

    The immediate area is densely populated with residential dwellings aswell as other national multiple road side operators including, Volkswagen, Ford and Majestic Wine, while the property also adjoins ‘The Pheasant’ public house.

  • Description

    The property comprises a purpose built tyre depot with ancillary accommodation on first floor of approximately 6,980 sq ft (648 sq m). The property benefits from a roller shutter door and forecourt providing approximately 12 car parking spaces.

  • Tenure

    Freehold

  • Tenancy (ies)

    The property is let in its entirety to Kwik Fit Properties Limited t/a Kwik Fit on a 30 year Full
    Repairing & Insuring lease from 25th August 1998 expiring 24th August 2028 (11 years unexpired). Rent reviews are 5 yearly to Open Market Rental Value with the next review due 25th August 2018. The property produces a current income of £115,610.51 per annum.

    Kwik Fit’s ultimate parent company, Kwik Fit Holdings Limited, guarantee the lease.

  • Current Rent PAX

    £115,610.51

  • VAT

    The property is VAT elected

  • Price

    £1,975,000 (Subject to Contract and exclusive of VAT )

  • Yield

    5.50% NIY

MISREPRESENTATION: These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchaser should satisfy himself and as to the correctness of these details, Neither the agents nor the vendor or lessors are to be or become under any liability or claim in respect of these particulars. These particulars are supplied on the understanding that all negotiations are conducted through this office.

All viewings are strictly by prior appointment.
Please contact:

Ed Smith
Patrick Over