7 High Street, Maidenhead, SL6 1JN

FREEHOLD RETAIL and RESIDENTIAL INVESTMENT FOR SALE

CENTRAL, PROMINENT LOCATION
INCOME SPREAD OVER 4 TENANCIES PLUS VACANT AREA WITH POTENTIAL
APPROX. NET INITIAL YIELD 7.00% ON LETTING OF VACANT FLAT

LOCATION
The property is situated on the south side of The High Street in Maidenhead, just to the east of the junction with St Ives Road in arguably the nicest part of the town centre. Maidenhead itself, is a busy town with a resident population of over 70,000 on the A4, close to junction 8/9 of the M4. The town centre is being transformed by a number of significant retail and residential developments and the area around this property has been enhanced, with more amenities and attractions. The Elizabeth Line/GWR station is nearby.

DESCRIPTION
The property comprises a terraced, 2 storey building, with two shops, two flats and a currently vacant first floor space . The larger retail unit is operated as a sun tanning and beauty establishment on two levels . Some photos of Flats supplied by letting agents, Watermans, before most recent letting. Approx. net areas provided as a guide only:

Shop 7: 33.5 m2 (361 ft2)
Shop 7a: 69.2 m2 (745 ft2) incl. 205 ft2 on 1st floor
1st Floor: 16.3 m2 (175 ft2) vacant area
Flat 1: 1 bed, boxroom, kitchen, bathroom
Flat 2: 2 beds, kitchen, bathroom

TENANCIES
Shop 7 is let to D Kaczmarek, trading as Needle Tailoring, on assignment, for a term expiring 30 June 2025 at a passing rent of £12,000 p.a.x. Shop 7a is let to The Suntan Shop (Maidenhead) Ltd for a term expiring 7 June 2028 at a passing rent of £22,500 p.a.x. Flat 1 is currently vacant and available to let at £1400 p.m. while Flat 2 is let at £1300 p.m. A store/office room on the first floor is currently vacant. NOTE: The tenant of Shop 7a has expressed a wish to take on a further 5-year term in 2028 at a rent of £25,000 p.a.x.

EPC Flats: D, Shops: C

TERMS
We are seeking offers in excess of £900,000 for the freehold interest in the building.

For more information, email philip@pmcd.co.uk or phone 01494 683642

( Agency Pilot Software ref: 450 )