Commercial property for sale in Clarendon House, 44 London Road, Newbury, Berkshire RG14

Situation

Newbury is the principle town of West Berkshire, situated approx 16 miles north west of Basingstoke, 19.9 miles west of Reading and 17.6 miles north east of Andover. The town has a resident population of approximateley 36,400 increasing to 119,434 within a 20 minute drive time (Experian)
The property occupies a prominent position roadside fronting onto the busy London Road in the heart of Newbury's primary office provision. This location is also within 2 minutes walk of the town centre retail provision along Northbrook Street and Parkway Shopping Centre anchored by Next and Marks & Spencer. There is a Aldi superstore located adjacent with both Travelodge and Premier Inn hotels opposite.

Description

The property comprises a substantial brick-built building which is Grade 2 listed arranged over three storeys to the front and a single storey to the rear. The front building has a brand new pitched slate roof with the rear buildings comprising part tile and part profile cement clad roofs.

The building is flexible in terms of layout and is currently used as a funeral directors on the ground floor of the main space together with the use of the rear workshops, but previously the ground floor front has been retail space for an insurance company and estate agents. There are offices above over two floors which could be used for residential purposes, subject to planning, and then you have the rear workshops and offices.

In the main, the property is well looked after and includes parking within the rear courtyard with space for ten cars if double parked.

Proposal

The property is available freehold subject to the existing leases. Offers are sought in excess of £650,000 (Six Hundred & Fifty Thousand Pounds). VAT is not applicable.

Viewing

Contact Shane Prater on or Email

Service Charge

The ground floor of the property is currently let to West Berkshire Funeral Directors Limited with a lease dated 18th April 2016 and a term of 15 years from 25th May 2015. The tenants are liable to contribute 46% of the service charge for the property and currently pay a rent of £22,500 per annum with a rent review due in 2025 with the lease being outside the Act.

The same tenants also hold a lease dated 23rd June 2017 which runs to 24th May 2030 the same expiry as the first lease which this time covers the rear workshops. The rent passing is £10,000 per annum and the lease is again outside the protection of the Landlord & Tenant Act.