Land For Sale £565,000
The accommodation is arranged on ground, first and second floors and it is now used as
offices let to multiple tenants on short term leases. Male and female WCs are on each floor, there are two staircases and one 8 person passenger lift.
To the front of the property is a large brick paved parking area which is used in conjunction with the adjacent Coach House Children’s Nursery and also provides access to a terrace of private garages.
30 car spaces are provided with Thatcham House. To the rear of the property is a substantial
lawned garden with numerous mature trees.
Energy Performance Certificate:
The EPC rating is e-118. A full copy of the EPC is available upon request.
Tenancy Agreements:
The majority of the leases are all-inclusive and cover rent, service charge and insurance. 6 leases also include electricity costs. Historically the landlord has not recovered the electricity costs from any of the tenants as the charges have
been very low. However, the situation is to change following the substantial increase in electricity prices and the owner has intentions to separately meter each suite so that the tenants pay for their own consumption.
Rental Income:
Current income £108,468
Less costs which include electricity £98,000
Net income: £10,468
The net income is presently very low due to the increased electricity costs which have not been recovered by the landlord. However, that cost is now to be recouped from the tenants, which is possible for all but 6 of the lease agreements.
After allowing for recovery of electricity and assuming full occupation at an erv
of £9 per sq ft, the net income would increase to £72,000 per annum, plus VAT.
Terms:
The property is offered for sale freehold subject to the occupational leases.
Price:
Offers are invited in excess of £565,000
This represents a reversionary yield of 12.4% allowing for purchasers costs at 2.6%.
VAT:
The property has not been elected for VAT and it is not charged on the rent or sale price.
offices let to multiple tenants on short term leases. Male and female WCs are on each floor, there are two staircases and one 8 person passenger lift.
To the front of the property is a large brick paved parking area which is used in conjunction with the adjacent Coach House Children’s Nursery and also provides access to a terrace of private garages.
30 car spaces are provided with Thatcham House. To the rear of the property is a substantial
lawned garden with numerous mature trees.
Energy Performance Certificate:
The EPC rating is e-118. A full copy of the EPC is available upon request.
Tenancy Agreements:
The majority of the leases are all-inclusive and cover rent, service charge and insurance. 6 leases also include electricity costs. Historically the landlord has not recovered the electricity costs from any of the tenants as the charges have
been very low. However, the situation is to change following the substantial increase in electricity prices and the owner has intentions to separately meter each suite so that the tenants pay for their own consumption.
Rental Income:
Current income £108,468
Less costs which include electricity £98,000
Net income: £10,468
The net income is presently very low due to the increased electricity costs which have not been recovered by the landlord. However, that cost is now to be recouped from the tenants, which is possible for all but 6 of the lease agreements.
After allowing for recovery of electricity and assuming full occupation at an erv
of £9 per sq ft, the net income would increase to £72,000 per annum, plus VAT.
Terms:
The property is offered for sale freehold subject to the occupational leases.
Price:
Offers are invited in excess of £565,000
This represents a reversionary yield of 12.4% allowing for purchasers costs at 2.6%.
VAT:
The property has not been elected for VAT and it is not charged on the rent or sale price.
