February 26, 2019 Claire Dickinson

FREEHOLD RETAIL INVESTMENT FOR SALE IN CHALFONT ST PETER

The premises are located in the village centre, at the junction of the High Street with Market Place in a predominantly retail position, opposite St Peter’s Court shopping mall. Nearby retailers include M&S Simply Food, Yorkshire Building Society, Timpsons, and the major Banks. Access to the A413 trunk road is nearby.

The property comprises a two-storey, end of terrace period building fronting the High Street with a lockup shop on ground and a flat on the uppers, which has been sold off on a long lease. The property has 2 car spaces at the rear.

The ground floor of the property is let on a commercial lease, for a term expiring 10th May 2025, to R Narotomo trading as The Party Shop, at a rent of £13,067.44 p.a.x. This rent is reviewable to the rise in RPI annually. The floor areas suggest an ITZA of 480 ft2 units, in which case the passing rent equates to £27.22 psf which may be considered highly reversionary. The tenant has a break option 11 May 2020 on serving a minimum 6 months’ notice. We understand that the tenant has requested an extension to the term, which implies that a re-gear may be possible. The flat was sold off April 2009 on a 125-year term at a peppercorn rent.

We are seeking offers in excess of £200,000 for the freehold interest in the building with the benefit of the tenancies. £200,000 equates to a net initial return of 6%. For further details, or to arrange a viewing, please call Philip Marsh on 01494 683642 or e-mail philip@pmcd.co.uk

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