75 High St 625 sq ft Retail Property Newport Pagnell MK16 8AB £265,000 (£424/sq ft) 7.40% Net Initial Yield

A rare opportunity to acquire the freehold interest of this commercial investment building. Comprising Ground floor retail premises with two one bedroom apartments occupying the first and second floors above. The retail premises enjoy a prominent frontage on the busy high street in the centre of this popular market town.
The premises are let to Ecigwizard on a ten-year lease that expired on the 30th November 2022. We are informed the current tenants wish to continue and are currently being held over under the terms of their assigned lease.
These two one-bedroom apartments occupy the first and second floors above the shop. 75A is currently let on an assured shorthold tenancy periodic basis at £900.00 per calendar month and 75B is currently let on an assured shorthold tenancy at £800.00 per calendar month. Both apartments can be sold individually, as on 21st September 2007 the current freeholder created 125-year leaseholds. Each apartment pays a ground rent of £75.00 per annum.