Crossman House, 9 High Street, Sunninghill, SL5 9NQ

Lot Image

Auction sale - Monday 17th July 2017

Result:

Sold for £972,000

  • Freehold retail & residential investment
  • Five flats, two flats sold off on long leases
  • On site car parking
  • Includes two recently refurbished flats & one newly developed flat
  • Currently producing £50,200 per annum (plus vacant flat)

Addendum

For Shop 1, a rent deposit of £3,150 is held.
For Shop 2, a rent deposit of £3,500 is held.
In “Description”, reference to four flats at first floor level should be disregarded. There is one flat at ground floor level, three flats on the first floor and the newly developed flat is on the second floor.

Viewings

Friday 14 July 2017 at 10:30am

Details

Location

Summary: High Street is the main route through the village and provides a mix of retail and leisure uses.
Miles: Ascot 1 mile, Windsor 7 miles, Central London 25 miles
Roads: B3020, A30, M3 (junctions 2 & 3), M25 (junction 12)
Rail: Sunningdale & Ascot railway stations (direct services to London Waterloo)
Air: Heathrow Airport 10 miles

Description

The property comprises a detached modern building of traditional construction beneath a pitched roof. The building is arranged as two ground floor retail units with five one bedroom flats at first and second floor level with separate access from the side of the building. There are four flats on the first floor, two of which have been sold off on long leases whilst the remaining two flats have recently been refurbished to a high standard. The flat at second floor level has been newly developed, again to a high standard. Externally there is a rear parking area for about 7 cars, with each commercial and residential unit allocated one space each. The property lies on the west side of the road, opposite its junction with Queen's Road.

Tenure

Freehold.

Planning

Royal Borough of Windsor & Maidenhead (01628 683800) www.rbwm.gov.uk

Planning & Development

Planning permission was granted on 14/01/2016 for the creation of 1x self contained flat in the roof space (Ref: 15/03903).

VAT

Refer to the legal documentation

Energy Performance Certificate

EPC Rating 67 Band C.

Address Tenant Floor Use Sq M Sq Ft Lease Terms Rent £ pa
TOTAL £50,200
Shop 1 Lvzsun Ltd t/a Coupe Hair Salon (1) Ground Retail 48.31 520 15 years from 25/06/2016 £13,000
Shop 2 The Little Flower Pot Ltd (2) (3) Ground Retail 43.01 463 15 years from 10/11/2006 £14,000
Flat 1 Individual First Residential 49.14 529 99 years from 24/06/1988 £200
Flat 2 Individual First Residential 49.14 529 99 years from 24/06/1988 £200
Flat 3 Individual First Residential 50.17 540 AST (refer to legal pack) £11,400
Flat 4 Individual First Residential 46.45 500 AST (refer to legal pack) £11,400
Flat 5 Vacant Second Residential Not measured Vacant
(1) Rent reviews 5 yearly and a break clause at the end of the fifth year.
(2) There is a personal guarantee from Helen Rachel Murphy (refer to legal pack).
(3) The lease contained break clauses which have not been implemented.

Joint auctioneers

Portman Morris

Andy Nouri

020 3397 4367

andy.nouri@portmanmorris.com

Contact

Seller's solicitor

Keene Marsland

Paul Barratt

01892 526442

pb@keenemarsland.co.uk

* Guide price

An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

* Reserve price

The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

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