1-3 Thornbridge Road, Iver, Buckinghamshire SL0 0PU
Offers in excess of £1,400,000
Mixed-use investment and development opportunity for sale in Iver
Recently refurbished ground floor retail unit and three garages let to Co-operative Food Group Limited for £32,500pa
3 existing two-bedroom flats measuring 201.1m2 (2,165ft2)
Two flats subject to Assured Shorthold Tenancies
One flat, two garages and parking area vacant
Planning permission to construct 3 two-bedroom flats measuring approximately 193m2 (2,077ft2)
Crossrail (Elizabeth Line) services will run from nearby Langley Station from December 2019
Offers in excess of £1,400,000
The existing two-storey mixed-use property comprises a ground floor retail unit let to Co-operative Food Group Limited for £32,500 per annum for 15 years (no breaks) from 2017. Co-Op have 3 garages with the remaining 2 being sold with vacant possession, in addition the site also benefits from 6 car parking spaces.
There are three existing two-bedroom flats measuring 201.1m2 (2,165ft2) on the first floor. Planning permission has recently been granted to construct a second floor comprising 3 two-bedroom flats measuring 193m2 (2,077ft2).
Iver is situated in South Buckinghamshire in the middle of the Colne Valley Regional Park and is famed for being the home of Pinewood Studios. Iver is within the grammer school catchment area, making it popular with families. The village itself has a pub, post office and pharmacy and the nearby larger shopping towns of Uxbridge, Beaconsfield and Gerrard’s Cross provide a wider range of shopping facilities.
Close by is the highly regarded Buckinghamshire Golf Club and the beautiful surrounding countryside provides many beautiful riverside and woodland walks, including those in Denham Country Park, Black Park, Langley Park and Burnham Beeches.
The property is positioned within easy reach of the M40 and M25 motorways, providing routes to central London (17 miles) and Heathrow Airport (8.7 miles).
The mainline railway station at Iver runs into London Paddington with journey times taking 30 minutes. In 2019 the Elizabeth line Crossrail service will operate from Iver, with journey times of 26 minutes to Bond Street, 33 minutes to Liverpool Street and 40 minutes to Canary Wharf. Trains from the nearby Denham Station take 20 minutes direct to London Marylebone. The Metropolitan and Piccadilly lines can be picked up from Uxbridge Station.
Planning permission was permitted on 31st August 2017 under the planning reference 17/00772/FUL for the construction of a second floor extension to provide three two-bedroom units measuring approximately 193m2 (2,077ft2).
For any further information please contact South Bucks District Council on 01895 837210.
The ground floor is at present let, by way of a lease to CO-OPERATIVE FOOD GROUP LIMITED for a term of 15 years (no breaks) to expire 30th January 2032 at a current rent of £32,500 per annum, exclusive of rates. The lease provides for a rent review in 2022 and 2017 contains full repairing and insuring covenants.
We understand that VAT is not applicable.
Viewings can be adequately made from the roadside in the first instance. To gain internal access, please contact sole agents Highfield investments for viewing arrangements.
We understand that there are no financial contributions.
Planning and other related documents will be sent in the form of an information pack that can be requested from a member of the Highfield team.
Buyers note: The property will be placed in the next Allsop commercial auction on the 26th October 2017 at the Cumberland Hotel, Great Cumberland Place, London W1.
We are inviting offers in excess of £1,400,000 for the freehold interest.
Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.