Map View
Sold on 14/02/2024
£1,170,000 (Subject to Contract and Exclusive VAT)
Newbury is an affluent and historic market town located in the county of Berkshire, South East England. The town lies approximately 18 miles south west of Reading, 25 miles south of Oxford and 60 miles west of Central London and sits within the local authority of West Berkshire Council.
The subject property is situated in the prime pitch at the northern end of the pedestrianised section of Northbrook Street. The main entrance to Parkway Shopping Centre is located just a few metres to the north. Other retailers in the immediate vicinity include: Metro Bank, Marks and Spencer and Boots.
Newbury comprises an attractive and vibrant shopping environment which was further enhanced by the opening of Parkway Shopping Centre in 2011. The development is accessed via Northbrook Street which provides approximately 300,000 sq ft of retail and leisure accommodation, including Next, M&S, Fat Face, Hotel Chocolat, H&M and Waterstones. Newbury has undergone significant investment and regeneration and is the principal commercial and retail hub of West Berkshire. As of February 2022, the Newbury Masterplan to future-proof the town was given full approval. The Masterplan looks to broadening the leisure, community and cultural offerings of the town. The two key areas set to benefit from the Masterplan is the Wharf with the creation of new waterfront leisure, events and social space. The other being the town centre which will see environmental improvements and better access routes for both pedestrians and cyclists making Newbury a more desirable place to live, work and visit.
£130,000.00 per annum exclusive
Freehold
A net initial yield of 10.5%, allowing for graduated purchasers costs.
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