Freehold Charity Shop and Residential Ground Rent Investment

Key Points

• Shop let to Oxfam on a lease expiring 2029
• Comprising a ground floor retail unit with two flats above (sold off)
• Pedestrianised market town centre location
• Nearby occupiers include Costa Coffee, White Stuff, Crew, Mountain Warehouse, Iceland, Boots and Waitrose
• VAT is not applicable

Description

The property comprises a well-configured retail unit let to Oxfam with a store/outbuilding to the rear, producing £14,000 per annum in rental income.

The lease is protected under the Landlord and Tenant Act 1954, and expires on the 29th February 2029, with five-yearly rent reviews - the last two of which have not been enacted. The lease is on a Full Repairing and Insuring (FRI) basis, managed by the freeholder, with all costs fully reimbursed by the leaseholders.

The upper floors consist of two residential apartments, each sold on long leaseholds at a peppercorn rent with approximately 200 years remaining.

Available area

The accommodation comprises the following areas:

Location

93 Spring Gardens occupies a prime position in the heart of Buxton’s main retail parade. Spring Gardens is the town’s principal shopping street, home to a strong mix of national and independent retailers. Buxton is a thriving spa town on the edge of the Peak District, benefitting from high footfall driven by tourism and a strong local economy. The property is well-positioned near major car parks and public transport links, making it a highly accessible and attractive retail destination.

Viewings

Strictly by appointment only with Joint agents Hallams Property Consultants or Allsops.

Terms

The premises are available by way of freehold disposal and are being offered as Lot 124 in Allsop’s forthcoming auction on 7th October.