Olney - 7 Market Place, North & South Barn Bull Court MK46

Olney - 7 Market Place, North & South Barn Bull Court MK46 4EAFreehold Grade II Listed Retail & Residential Investment

Investment Consideration: Purchase Price: £850,000 Rental Income: £46,800 p.a. ERV: £58,800 p.a. GIY: 6.92% Grade II Listed building VAT is applicable to this property Sale of property can be treated as Transfer of Going Concern (TOGC) Comprises 2 retail shops, 2 beauty salons and 1 residential flat Nearby occupiers include Costa Coffee, Co-Op Food, Tesco Express and others.

Tenancies and Accommodation:Property Ac c ommodation Lessee & Trade Term Current Rent £ p .a. Notes

No. 7 Market P lac e(Ground Floor)

Cafe: 67 sq m (721 sq ft)Open Plan Retail Area, Storage, WCs

Individuals 5 Years from 8 October 2021

£17,200 Note 1: FRINote 2: Deposit held of 3 months (£4,300)Note 3: Tenant option to determine on 08.10.24 with minimum 6 months notice

No. 7A Market P lac e(Ground Floor)

Dry Cleaners: 38 sq m (409 sq ft)Open Plan Retail, Storage, WC

Individual 10 Years from 2 June 2016

£14,000 Note 1: FRINote 2: Tenant in occupation since 2006

No. 7B Market P lac e(First/Sec ond Floor)

Maisonette: 133 sq m (1,431 sq ft)3 Bedrooms, Kitchen, Living Room, Bathroom/WC

Vacant ERV: £12,000

South Barn, Bul l Court(First/Sec ond Floor)

Beauty Salon: 45 sq m (484 sq ft)Not Inspected

Olney House of Beauty Limited

8 Years from 31 August 2015

£7,800 Note 1: FRINote 2: No breaks

North Barn, Bul l Court (First/Sec ond Floor)

Beauty Salon: 38 sq m (409 sq ft)Not Inspected

Olney Spa Limited 5 Years from 1 September 2018

£7,800 Note 1: FRINote 2: No breaks

Total £46,800

ERV £58,800

Olney - 7 Market Place, North & South Barn Bull Court, Buckinghamshire MK46 4EAFreehold Grade II Listed Retail & Residential Investment

Property Description:The property comprises Café and Dry Cleaners fronting Market Place, 2 Beauty/Nail Salons located at the rear Bull Court and 1 Residential Flat at First and Second Floor. The property benefits from rear courtyard.

The property provides the following accommodation and dimensions:

No. 7 Market Place: Ground Floor Cafe 67 sq m (721 sq ft)No. 7a Market Place: Ground Floor Dry Cleaners 38 sq m (409 sq ft)No. 7b Market Place: First/Second Floor 3-Bed Flat 133 sq m (1,431 sq ft)No. 2 Bull Court: Ground/First floor Beauty Salon 45 sq m (484 sq ft)No. 3 Bull Court: Ground/First floor Beauty Salon 38 sq m (409 sq ft)

Total area size: 321 sq m (3,454 sq ft)


Tenancy:No. 7 Market Place is at present let to an Individuals for a term of 5 years from 8th October 2021 at a current rent of £17,200 per annum and the lease contains full repairing and insuring covenants. Deposit held of 3 months (£4,300). Tenant option to determine on 08.10.24 with minimum 6 months notice.

No. 7A Market Place is at present let to an Individual for a term of 10 years from 2nd June 2016 at a current rent of £14,000 per annum and the lease contains full repairing and insuring covenants. Tenant in occupation since 2006.

No. 7B is at present vacant. ERV: £12,000 per annum.

South Barn is at present let to Olney House of Beauty Limited for a term of 8 years from 31st August 2015 at a current rent of £7,800 per annum and the lease contains full repairing and insuring covenants. No breaks.

North Barn is at present let to Olney Spa Limited for a term of 5 years from 1st September 2018 at a current rent of £7,800 per annum and the lease contains full repairing and insuring covenants. No breaks.




Location:Olney is a market town and civil parish in the Borough of Milton Keynes in Buckinghamshire, England. The A509 road runs into the wide High Street bordered by historic town houses. The Market Place is the site of a general market on Thursdays and a farmers' market on the first Sunday each month. The vast majority of Olney shops are independents, attracting shoppers from further afield to find the galleries, antique, rug and furniture sellers, as well as boutiques for interior design, fashionable clothes and perfumery. There are restaurants, pubs, cafés and takeaways offering a wide variety of British and international food. The property is located opposite Olney Market with occupiers nearby including Costa Coffee, Co-Op Food, Tesco Express and others.


Contacts:To view copies of the leases, information on the title, other information, please contact Joseph Bachman or Prash Jaitley.

Disclaimer: Blue Alpine Partners prepares sales and letting particulars diligently and all reasonable steps are taken to ensure that they are correct. Neither a seller nor a landlord nor Blue Alpine Partners will, however, be under any liability to any purchaser or tenant or prospective purchaser or tenant in respect of them. If a property is unoccupied, Blue Alpine Partners may not have all the information required by a prospective purchaser or tenant in its possession, may not be able to obtain it and may not be able to verify all the information which it does hold. Prospective purchasers should make their own investigations before finalising any agreement to purchase or lease.

Address:

Blue Alpine Partners LimitedTrading Address: 83c Ashley Gardens, Thirleby Road, London, SW1P 1HGRegistered Address: Suite 115, Devonshire House, Manor Way, Borehamwood, Hertfordshire, WD6 1QQ

Prash Jaitley – Managing Partner M: +44(0)79618 53166E: [email protected]

Joseph Bachman – COO M: +44(0)77236 19270E: [email protected]


Documents

Olney - 7 Market Place, North & South Barn Bull Court MK46