36 High Street Stony Stratford, Milton Keynes MK11 1AF, 36 High Street, Stony Stratford, Milton Keynes | Property for sale | Savills
Guide price £195,000(€227,562)

36 High Street Stony Stratford, Milton Keynes MK11 1AF36 High Street, Stony Stratford, Milton Keynes

  • New
  • Sole agency
  • Freehold
Investment
Yield 9%Yield

Key features

  • Asset management potential to improve the passing rent via section 25 notice
  • Tenant has been in occupation since 2007 (currently holding over)
  • Tenant confirmed they wish to remain at the property (Please refer to tenancy)
  • VAT free investment
  • Let at £18,250 p.a (9.35% GIY on guide or 14.61% on GIY subject to the new rent)
  • A freehold mid terrace property an approx. 1,917 sq ft over 3 floor
  • Section 25 notice served increasing the rent to £28,500 p.a.
  • Development potential to convert the upper floors into a number of dwellings
  • Car parking to the rear
  • 6 week completion available

A freehold mid terrace commercial property amounting to an approx. 1,917 sq ft across ground, first and second floor. The entire property is let at £18,250 p.a. and a the section 25 notice have been served at an increased rent of £28,500 p.a. Investment let at £18,250 p.a.

About this property

  • A freehold mid-terrace commercial investment extending to approximately 1,917 sq ft over three floors. The property is let to Countrywide Estate Agents Limited (TA Taylors), who have occupied the premises since 2007 and are currently holding over. A Section 25 Notice has been served proposing a new 10-year lease at £28,500 per annum, offering significant asset management potential from the current rent of £18,250 per annum. The property benefits from rear car parking, VAT-free status and longer-term potential to convert the upper floors to residential accommodation, subject to the requisite consents. Nearby national occupiers include Costa Coffee, Tesco Express, Boots and the Post Office as wall a wide range of local and boutique retailers.

Local information

  • The property occupies a prominent position on the High Street in the affluent market town of Stony Stratford, approximately 5 miles north-west of Milton Keynes. The town benefits from a strong mix of national and independent retailers, cafés, restaurants and local amenities, attracting consistent footfall throughout the day. Nearby occupiers include Costa Coffee, Tesco Express, Boots and the Post Office, together with a variety of established local businesses.
  • Transport
  • The property is well located with access to the regional road network via the A5, providing links to Milton Keynes, Towcester and the M1 motorway. Milton Keynes Central Station is approximately 5 miles to the south-east and provides regular services to London Euston, Birmingham and other major UK destinations.

Additional information

  • Tenure
  • Freehold
  • Accommodation
  • Please refer to the floor plan
  • An approx. 1,917 sq ft
  • Tenancy
  • 36 High Street
  • Countrywide Estate Agents Limited (TA Taylors)
  • Let on a 10 year FR&I lease from 2007 (tenant currently holding over)
  • 25 Notice has been served proposing a new 10-year lease at £28,500 per annum
  • Investment let at £18,250 p.a.