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87-89 High Street Maidenhead SL6 1JX

Mixed Use Investment with Consented Residential Development
For sale
  • An exciting opportunity to purchase a mixed use investment and a consented residential development on the High Street in Maidenhead.
  • The property is located close to Maidenhead mainline station (Elizabeth & Overground Line).
  • The existing building is arranged as two commercial units on the ground floor with the upper parts comprising five apartments (3 x 1 beds & 2 x 2 beds), with a total NIA of 3,153 sq ft.
  • Four of the five residential apartments are let producing a current passing rent of £40,800 per annum.
  • The ground floor and basement is arranged as 2 retail units.
  • 87 High Street is let to FSKTR Limited T/A Fitness Space for a term of 15 years from 16th May 2019 at a passing rent of £34,000 per annum.
  • 89 High Street is let to Done Brothers (Cash Betting) Limited T/A Betfred for a term of 10 years from 29th September 2015 at a passing rent of £35,500 per annum.
  • Therefore, the total passing rent is £110,300 per annum.
  • Existing GIA is approximately 9,816 sq ft.
  • Planning permission has been granted for the addition of a first and second floor to the rear to provide 5no one bedroom flats and 1no two bedroom flat with a total
  • proposed NIA of 3,141 sq ft. Planning ref :22/00854/FULL.
  • A separate consent has also been achieved for alterations to the existing 5 units, including roof lights and creation of a new unit at second and third floor level. Planning ref: 20/01654/FULL.
  • Freehold.
  • Offers in Excess of £1,850,000 (One Million, Eight Hundred & Fifty Thousand Pounds) subject to contract. Reflecting a low capital value of £188 per sq ft.
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