The premises (19 London End) are located in the centre of Old Beaconsfield close to the junction of the A40 London End with the B474 Aylesbury End. The M40 Junction 2 is within 1/2 mile and the mainline station is 1 mile distant in the New Town. The Old Town is a specialist retail location, attracting well known restaurant and retail brands, is considered to be a highly desirable office location, and an attractive place to live.
The property comprises a very attractive two storey Grade II Listed office building, traditionally constructed of masonry beneath pitched tile roofs, with a section of flat roof over a more modern extension to the rear. With a largely cellular current layout, this allows letting room by room. Heating is by individually controlled electric heaters, access is by entryphone.
All of the offices are let. The meeting room is a shared facility for which no rent is paid. There are currently 6 tenants paying a combined gross rent of £50,549 p.a. which is inclusive of heating, electricity, water, building insurance, common parts and external maintenance, refuse collection, cleaning of common areas. Costs vary annually but we estimate general costs for the current calendar year will amount to £15-16,000. Details of last year’s figures are available on request.
With passing rents netting back to approximately £25 psf there is the prospect of rental growth, either simply through market movement or from repositioning the business centre as a higher quality product. The recent changes to the Use Classes Order now allow a wider range of uses to occupy “offices” within Class E. Alternatively, subject to planning, residential conversion may be possible. We are seeking offers in excess of £700,000 for the freehold interest.
For further details, please call Philip Marsh on 01494 683642 or e-mail email@example.com