Clarendon House | 44 London Rd
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Clarendon House 44 London Rd
3,592 SF 100% Leased Office Building Newbury RG14 1LA $791,050 ($220/SF)
Investment Highlights
- Prominent High Street location
- Great road links via A339
- Great local amenities nearby
Executive Summary
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.
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 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.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
3,592 SF
Building Class
C
Year Built
1789
Price
$791,050
Price Per SF
$220
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,250 SF
Building FAR
0.55
Lot Size
0.15 AC
Parking
1 Space (0.4 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Signage
- Storage Space
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Clarendon House | 44 London Rd
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