21 – 23 The Broadway is arranged over 2 - 3 floors Formerly three buildings remodelled to provide a modern ground floor shop unit in single occupation with separate residential accommodation above. The rear of the building has been extended together with a car park with 4 spaces accessed from Oxford Street. There is access via a passageway from the Broadway to “Saddlers Court” a residential development. The building is brick built with a tiled roof and hipped tiles at the north end. The rear is part timber framed with plaster panels, casement windows, gables some hipped, with brick weatherboard and hung tiles.
Upper floors have recessed wooden sash timber windows with glazing bars. The ground floor has a large frontage to the Broadway with windows along the full length. The property benefits from mains gas, electric, water and drainage.
( Agency Pilot Software ref: 54039 )
Location
Located in the affluent and attractive market town of Newbury in the County of Berkshire. Newbury is the main commercial centre for West Berkshire. The local economy is inter-related to the M4 corridor which has numerous industrial, logistical, research and office business parks including the headquarters of Vodaphone and Micro Focus International. It has a resident population of 40,000 with a retail catchment of circa 115,000 and is rated within the top 10 most affluent towns on the Promis PMA indicator.
The town benefits from excellent road and rail communications and is served by the A34/ A339 which provides access to neighbouring towns of Oxford, Reading and Basingstoke. Newbury is served by two railway Stations. Newbury mainline Railway Station is on the Paddington – Bristol / Penzance line whilst Newbury Racecourse Station operates local services between Newbury and Reading with additional trains on race days. London Heathrow international Airport is located approximately 42 miles to the east. In 2022 West Berkshire Council approved the Newbury Town Centre Masterplan which aims to broaden the leisure, community and cultural offerings of the town
Accommodation
Ground floor 165 sq m (1771 sq ft )
1st floor 159 sq m (1709 sq ft )
2nd floor 96 sq m ( 1037 sq ft )
Total 420 sq m (4517 sq ft )
Terms
RATEABLE VALUE The subject has a current rateable value of £26,750. The small business rates multiplier is 49.9 pence. These figures are provided as a guide only, interested parties are advised to confirm this with the local rates authority.
EPC Available on request
PLANNING Use class E with residential above The property is Grade II listed and is within Newbury Town Centre Conservation area.
TENANCY The Ground floor is let to Roderick Anthony Limited (Co Number: 04642286) from the 1/4/2024 on a 10-year effective FRI lease by way of a service charge contribution. There is an upward only Rent Review at the 5th year of the term and Tenant (only) break clauses effective from 31/3/2027 & 31/3/2030. The present rents (exclusive) are as follows: Year 1 - £22,000 Year 2 - £23,000 Year 3 - £24,000 Year4 & 5 - £25,000 pax The residential upper parts have been “sold off” on long leases for 125 years from 1/1/2013. Each flat has one demised car parking space and pays a rent of £200 pax, payable for first 20 years and doubling on each twentieth anniversary. In addition, there are an 5 car parking spaces let on annual Licences at £1,020 pax
Specification
• Prominent location.
• Located in the market town of Newbury, Berkshire, 20 miles west of Reading, 28 miles south of Oxford and 60 miles west of Central London.
• Residential Upper Parts “sold off” on long leases of 125 years from 1/1/2013
• Ground floor let on a new Lease to Roderick Anthony Limited for a term of 10 years from the 1st April 2024. Initial 5 years on a stepped rental basis averaging to £23,800 pax and subject to an upward only Rent Review at the 5th year. A well-established Tenant in occupation since 2013.
• Possible sale as a TOGC or Company sale with one asset