Restaurant & 2 Maisonette’s, Gerrards Cross

Property Description

• Freehold Restaurant & Residential investment in Gerrards Cross, Buckinghamshire
• Comprising a ground floor restaurant and two large maisonettes
• Total Gross Internal Area approx 7,011 sq ft
• Potential to develop 8 flats, subject to obtaining all relevant consents
• VAT is  not applicable

Location Description

• Gerrards Cross is a popular and affluent commuter town located in the prosperous M40 corridor some 20 miles west of central London
• The town benefits from excellent road communications being at the junction of the M40 (junction 1) and the M25 (junction 16)
• Gerrards Cross Rail Station provides regular services to central London (Fastest train – 20 minutes)
• The property is well situated in the town centre some 300 metres form Gerrards Cross Rail Station, on the south side of Oak End Way in an area with a few restaurants
• Occupiers close by include Costa Coffee, Boots, Strutt & Parker Estate Agents, Card Factory and Everyman cinemas, amongst many others.

Accommodation & Tenancy Schedule

• Let to Hillmart Ltd (t/a Maliks) for 20 years from 17.12.2012 for £57,950 p.a. including a maisonette (12/14 Oak End Way)
• Hillmart Limited were incorporated in 2006 and Maliks also trade from restaurants in Cookham and Marlow
• Website: www.maliks.co.uk
• The rent increased from £45,000 p.a. to £57,950 p.a. at the 2017 rent review
• Outstanding Rent Review from 2022
• The landlord has served notice in respect of the 2022 rent review quoting a rent of £69,500 p.a.
• Rent review every 5th year
• Effectively FR&I
• First & Second Floor Maisonette (12a Oak End Way) comprising 4 bedrooms let on 12 months AST from 07.09.2021 for £19,560 p.a.
• Total annual income of £77,510 p.a.