Rose Court, Market Hill

Key Features

Summary

Long Leasehold Investment Premises for sale, comprising ground floor restaurant with outside courtyard seating area and w.c. facilities. To the first floor there is a kitchen and storage, with offices to the second floor. There is 175 years remaining on the long leasehold interest.

TOTAL FLOOR AREA 255.75 Sq.m (2,753 Sq Ft)

LOCATION
Olney is a small thriving market town located to the very north of the county of Buckinghamshire, approximately 12 miles from Northampton, Bedford and Milton Keynes and is situated on the busy A509. The town centres around the Market Place where the general market is held on a Thursday and a Farmers Market takes place on the first Sunday of every month. Olney also boasts a significant number of visitors throughout the year attracted to the vast array of specialist shops, restaurants and historic buildings.

Full Description

GROUND FLOOR RESTAURANT
131.4 Sq.m. (1,414 sq.ft)

GROUND FLOOR TOILETS
8.46 Sq.m. (91 sq.ft)

FIRST FLOOR KITCHEN
27.77 Sq.m. (299 sq.ft) plus 10.28 Sq.m (111 sq.ft)

FIRST FLOOR INTERNAL STORAGE
14.96 Sq.m. (161 sq.ft) Plus 12.73 Sq.m. (137 sq.ft)

SECOND FLOOR OFFICE
15.7 sq.m. (169 sq.ft)

OUTDOOR DISPLAY/SEATING AREA
34.5 Sq.m. (371 sq.ft)

TERMS & TENURE
The property is for sale on a long leasehold basis at a figure of £440,000 exclusive.

The property is currently let on a 20 year lease commencing December 2018, subject to 5 yearly reviews at a rental of £35,000 per annum and trading as The Courtyard Brasserie. The head lessee is required under the head-lease to pay Abbey Mill Homes a sum of £4,500 per annum for a portion of the external areas, so effectively the rental income equates to £30,500 per annum.

GROUND RENT
£950 per annum.

EPC
The EPC rating for the property is 66 - Band C.

RATES
Rateable Value £33,500. The rates payable may be affected by transitional arrangements. Interested parties should call the local Rating Authority for further advice.

COSTS
Each party is to be responsible for their own legal costs.

AGENTS NOTE
In accordance with the Estate Agents Act 1979 we are required to disclose that the vendor is a relative of an employee of Avenues Estate Agents Limited.

MAKING AN OFFER
• We are required to see written confirmation of a mortgage agreement in principle from the proposed lender or a bank statement, if you are a cash buyer.
• Under Money Laundering Regulations, intending purchasers will be asked to produce photo identification documentation and proof of address and we would ask for your co-operation in this matter. We may also carry out an online identity check, this is not a credit check.
• These particulars do not constitute part or all of a contract.
• All measurements are approximate and potential buyers are advised to recheck the measurements before committing to any expense.
• Avenues has not tested any apparatus, equipment, fixtures, fittings or services and it is in the buyers interests to check the working condition of any appliances.
• Avenues has not sought to verify the legal title of the property and the buyers must obtain verification from their Solicitor.
• Avenues reserve the right to offer a range of other services, which include financial and conveyancing services, from which we may derive other commission or fees.
• Inspection strictly by prior appointment through Avenues.