8A Cherwell Close, Langley, Slough, Berkshire, SL3 8XB

Lot Image

Auction sale - Monday 11th December 2017

Result:

Sold for £360,000

  • Freehold retail investment
  • Let to Tote Bookmakers Limited (holding over)
  • Planning granted for two bedroom flat above retail unit
  • Includes an area of land to the rear with potential
  • Current rent £13,250 per annum

Details

Location

Summary: A neighbourhood shopping parade within a residential housing estate
Miles: Slough 4 miles, Hayes 8 miles, Hounslow 8 miles
Roads: B470, A4, M4 (junction 5)
Rail: Langley
Air: Heathrow International Airport

Description

The property comprises a single storey end-of-terrace lock up shop, forming part of a mainly two storey neighbourhood parade built of traditional brick construction. There is an area of land behind the property that may suit residential development, subject to obtaining the necessary consents. The property is situated just to the south of Cherwell Close, being adjacent to London Road (A4) and opposite the junction with Laburnam Road.

Tenure

Freehold

Planning

Planning permission was granted on 30/09/1985 for the erection of a two bedroom first floor flat above the shop and subsequent minor amendments were approved on 26/03/1986. The Seller has commenced the development in accordance with the consent and the Council has acknowledged the same. For further information refer to the legal pack or contact Slough Borough Council (01753 477 340) www.slough.gov.uk

VAT

Refer to the legal documentation

Energy Performance Certificate

See website

Address Tenant Floor Use Sq M Sq Ft Lease Terms Rent £ pa
TOTAL 76.00 818 £13,250
8A Cherwell Close Tote Bookmakers Limited (t/a Betfred) (1) (2) Ground Retail Kitchen/internal storage 72.00 4.00 775 43 Lease expired on 21/11/2009 £13,250
The areas have been taken from the VOA website.
(1) The property has traded as a bookmaker since 1991.
(2) Tote Bookmakers Limited for the year ending 25/09/2016, reported a turnover of £141.19 million, a pre-tax profit of £16.98 million and a shareholders' funds of £52.76 million. (Source: Graydon).

Joint auctioneers

Lambert Smith Hampton

John Williams

01628 678 180

jwilliams@lsh.co.uk

Contact

Seller's solicitor

Harris & Harris

Kathryn Lander

01749 674747

kathryn.lander@harris-harris.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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