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Property
Property description & features
The Head Lease
999 years from 6th March 2017 at a peppercorn ground rent.
The Sublease
Term of 15 years from 28th November 2016 at a passing rent of £14,000.00pa exclusive, full repairing and insuring liability, index-linked rent reviews at 5 yearly intervals (2021 was silent), no further tenant's break options and held outside Part 2 of The Landlord & Tenant Act 1954.
The Location
Wantage is located in southern Oxfordshire, approximately 15 miles south west of Oxford at the junction of the A338 and A417, and approx. 6 miles west of the A34 Milton Interchange near Didcot. Along with nearby Grove the town has experienced extensive housing and population growth, which is set to continue for a number of years to come. The restaurant fronts onto busy Wallingford Street on the east side of the town centre. Wallingford Street is the sole route in and out of the town on that side. The premises are on the south side of the street, in the designated primary shop frontage and conservation areas opposite a large Waitrose store. The restaurant presently has no direct competition on this side of the town.
Price guide and terms
Offers in the region of £195,000 are invited for the long leasehold interest, with each party covering their own costs however arising.
VAT status
We understand the property is not opted in for VAT therefore the purchase price will not attract VAT.
Energy Performance Rating
D/77 (full details on request).
Flood risk
From the Environment Agency's "Flood Map for Planning" the shop is indicated as being in an area designated as Zone 1 (Low Risk).
Business Rates
Rateable Value - 12,250 (April 2017). The Small Business Rate Relief Multiplier for 2022/23 is x 0.499 = £6,112.75 payable but, assuming maximum rate relief applies the tenant's actual liability will be minimal.
Planning and rating authority
Vale of White Horse District Council 135 Eastern Avenue, Milton Park, Abingdon OX14 4SB[use Contact Agent Button]
Viewing
Strictly by prior appointment please with the sole agent, Green & Co Commercial and Development Agency, Monday to Friday 9am to 6pm only. Tel.[use Contact Agent Button] ref. RH or e-mail: [use Contact Agent Button]
Agent's notes
1. The freehold to the whole building, which includes 1st and 2nd floor flats over, is owned by a third party and is not for sale. 2. The flats are completely self-contained and independently accessed from the rear of the building.3. The restaurant is also accessible from the rear via a passageway off Wallingford Street to the right.
Tenure: Leasehold
Property information from this agent
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Property reference 11510766. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Green & Co - Wantage Sales.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on May 18, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on May 18, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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