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

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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