The property is situated on the east side of High Street towards the southern end of the High Street, close to Burnham Park and less than one mile from the nearest rail station (average 34 minutes to London Paddington) which will be a Crossrail station. A good selection of schools are within walking distance. The High Street has many good shops, pubs and food outlets. Burnham is a small market town between Slough and Beaconsfield with a weekly market.
The property comprises the upper two floors of a modern 3 storey, mixed use building with access from the rear. It is currently divided into 4 self-contained flats, each let on its own Assured Shorthold Tenancy. The flats are in good, presentable condition, with good quality UPVC double glazing and electric heating. Details and photos from the inventories are available on request. The ground floor is occupied by a Dominos Pizza franchisee. There is no official parking for residents of the flats but street parking is plentiful in the vicinity of the building.
Our clients have owned and managed the investment for many years and now wish to sell the four long-leasehold flats as a single investment. Each flat is held on the residue of a 999 term from 1 Jan 2015 at a fixed ground rent of £25. Each flat is underlet to a tenant on a standard AST at a combined rental income of £3290 per month (£39,480 p.a.) Further details of the tenancies on request.
We are seeking offers in excess of £725,000 for the 4 long-leasehold flats, subject to and with the benefit of the existing tenancies. This will provide a corporate buyer with a potential gross initial return on investment of 5.1% and prices the four flats at a discount to market value individually (at £725,000). Both parties’ legal costs to be borne by the purchaser.
For further details, please call Philip Marsh on 01494 683642 or e-mail email@example.com