Commercial/Retail Investment with potential (STP) - Abingdon - FOR SALE

£ 550,000


Investment with potential

OX14 3JP


The property comprises two Grade II Listed buildings fronting onto Stert Street. Each property comprises ground and first floor accommodation with further space at second floor level within the attics. 28 Stert Street also has a substantial single storey rear section and a basement.

The properties have rear access leading onto Queen Street and 28 Stert Street has the benefit of 2 parking spaces.

The property has potential for partial redevelopment/conversion to accommodate residential use, subject to any necessary planning consents. It may be relevant to note that planning consent was recently granted at 22 Stert Street for 'Alterations and change of use in order to create a mixed development comprising a retail unit and 9 flats'.

28 Stert Steet Ground 1579 146.69
Basement 634 58.90
26 Stert Street Ground 340 31.59
26-28 Stert Street First 490 45.52
Second 600 55.74
Totals 3643 sq.ft. 338.44 sq.m. Approx. Net Internal

The floor area information has been provided by the Vendor.

The freehold is currently subject to the following occupational tenancies:

1. Ground & Basement 28 Stert Street - An FRI lease dated 7th December 2021 to Kitchen Facelifts Ltd for 8 years from 25/03/20 with a mutual break at 01/09/24 subject to 6 months' notice. The rent passing is £22,000 p.a.

2. Part ground and first and second floors 26 Stert Street - An effective FRI lease dated 7th December 2021 Utopia Beauty Salon Ltd. The lease expires 01/09/28 and has a mutual break from 01/09/24 with 3 months' notice on either side. The current rent is £5,500 p.a. rising to £6,500 p.a. on 01/09/24.

3. Ground floor 26 Stert Street - let on a tenancy at will to Utopia at £550 pcm.

The current total rental income is £34,100 p.a.

The freehold is for sale subject to the above tenancies at a quoting price of £550,000

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

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

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