Commercial & residential investment with further development potential - Wantage - FOR SALE

25 & 26, 25a & 26a Market Place Wantage Oxfordshire OX12 8AE

£ 850,000

Wantage

Development / Investment

OX12 8AE

18-01-2023


DESCRIPTION
This attractive and prominent late Edwardian c.1911 3-storey building is situated in the end of the Market Square, near to the church, and adjacent to a gallery, independent silversmith, and a coffee shop.
The building comprises two smart professional offices/retail space on the ground floor which were extensively refitted and refurbished in 2016 to a very high standard by high end shop fitters MPL. The offices are currently open at the rear to one another but historically were separate and could easily be sub-divided again. The offices are configured to two large bay fronted shop fronts, a rear office space each with an original fireplace, a meeting room, kitchen and two toilets, and are fitted with combination heating/air conditioning units, fire alarm system and have a high speed broadband connection (subject to transfer).
There are two spacious duplex apartments over the offices (25a & 26a); 25a was refurbished in 2022 and has been a successful Airbnb and short term let; 26a is tenanted under a rolling AST.
To the rear of the main building there is a detached single storey barn with power and light, an outside toilet and car parking area for a number of vehicles with access directly onto Church Street. The barn and car park provide an excellent opportunity for redevelopment and have a lapsed planning consent (see USE).

ACCOMMODATION
GROUND FLOOR
25 Ground floor offices - 428 sq.ft. (39.7 sq.m)
26 Ground floor offices - 448 sq.ft. (41.6 sq.m)
25 & 26 Meeting Room - 158sq.ft. (14.6 sq.m)
25 & 26 Kitchen & WC's - 165 sq.ft. (15.3 sq.m)
Rear Barn (Outbuilding) - 692 sq.ft. (64.2 sq.m.)
TOTAL - 1891 sq.ft. (175.6 q.m.)

FIRST & SECOND FLOORS
25a - 2 bedroomed duplex apartment - 904 sq.ft. (84.0 sq.m.)
26a - 2 bedroomed duplex apartment - 940 sq.ft. (87.3 sq.m.)
TOTAL - 1844 sq.ft. (171.3 sq.m.)

TERMS
The entire ground floor is occupied by the current owners, Douglas & Simmons, who would like to lease back 25 Market Square and the barn ( subject to terms). 26 is currently being marketed for letting on a new lease at a rent of £12,500 p.a.exclusive.

25a is advertised to let on an AST for £1,275 pcm and as an Airbnb:

Douglas and Simmons:https://www.douglasandsimmons.co.uk/properties/15214246/lettings

Airbnb:https://www.airbnb.co.uk/rooms/576031716105681729?adults=1&children=0&infants=0&pets=0&check_in=2023-01-05&check_out=2023-01-10&source_impression_id=p3_1672929005_anjUQU1DF7yR9s2Q

26a is let on a rolling AST for £800 pcm and is due for a price review.

The gross income for both apartments in 2022 was £28,500.

The freehold guide price is £850,000.

Sorry, we do not have any epc files at this time.

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