Your email has been sent.
36-38 Sheep St 2,144 sq ft 100% Let Retail Property Bicester OX26 6LG £450,000 (£209.89/sq ft) 4.44% Net Initial Yield
Investment Highlights
- Centrally located within Bicester Town Centre.
- No 36 currently vacant with a potential income of £30,000 pax.
- Planning and Listed Building consent previously obtained for 2x two-bedroom apartments.
- No 38 Let to H Osselli Esq - rent £20,000 pax.
- Development potential of upper floors subject to the usual consents.
- Long Leasehold Available/ Indemnity Insurance Available.
Executive Summary
Details below are of a planning application and listed building consent which was permitted for the residential conversion of the upper floors to two dwellings. The consents have lapsed, but the attached links include plans and relevant documentation on the buildings required for the planning permission.
Tenure – Long Leasehold Interest/Freehold Interest
The property is stated to be held for a term of 500 years created by a Lease dated “on or about” the 20th March 1579 made between Queen Elizabeth I and the Earl of Derby at a peppercorn rent. The Land Registry entry states that “Neither the original instrument creating the term, nor a certified copy, or examined abstract thereof, was produced on first registration.” As a result, we have not been able to identify any unusual or onerous covenants running with the land. We are informed that the current long leaseholders have put in place a Defective Title Indemnity Policy having a Maximum Liability of £1,090,000. (Full details are available from White Commercial).
Service Charge
There is currently no service charge payable.
Services
We understand that all main services are provided to the property, excluding gas. None of these services have, however, been tested by the agents.
Business Rates
The Rateable Value for 36 Sheep Street is to be appealed. Further information and an estimate are available from White Commercial.
Viewing and Further Information
Please contact Chris White & Harvey White.
Property Facts
Amenities
- Security System
- Signage
- EPC - D
- Storage Space
- Smoke Detector
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Terms & VAT The premises is available on a new effective fully repairing and insuring lease, with terms to be agreed and subject to contract at a rent of £30,000 per annum, exclusive of other outgoings. We are advised that the property is not subject to VAT. Service Charge and Building Insurance There is currently no service charge payable. The landlord will provide building insurance and will recover the proportionate premium from the lessee annually in advance. The lessee will be responsible for contents insurance. Services We understand that all main services are provided to the property, excluding gas. None of these services have however been tested by the agents. Business Rates The Rateable Value is £52,000 per annum. This is not what you pay; further information is available from White Commercial or via the Local Charging Authority upon request. Viewing and Further Information Please contact Chris White & Harvey White.
| Space | Size | Space Use | Position | Available |
| 36 | 1,539 sq ft | Retail | In-Line | 30 Days |
36
| Size |
| 1,539 sq ft |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
36
| Size | 1,539 sq ft |
| Space Use | Retail |
| Position | In-Line |
| Available | 30 Days |
Terms & VAT The premises is available on a new effective fully repairing and insuring lease, with terms to be agreed and subject to contract at a rent of £30,000 per annum, exclusive of other outgoings. We are advised that the property is not subject to VAT. Service Charge and Building Insurance There is currently no service charge payable. The landlord will provide building insurance and will recover the proportionate premium from the lessee annually in advance. The lessee will be responsible for contents insurance. Services We understand that all main services are provided to the property, excluding gas. None of these services have however been tested by the agents. Business Rates The Rateable Value is £52,000 per annum. This is not what you pay; further information is available from White Commercial or via the Local Charging Authority upon request. Viewing and Further Information Please contact Chris White & Harvey White.
Nearby Major Retailers
Presented by
36-38 Sheep St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.