Investment.

Newbury.

68/69 Northbrook Street, RG14 1AE

Map View

Status.

Sold on 14/02/2024

Accommodation.

Ground Floor Sales 4,500 sq ft 418.22 sq m
Ground Floor ITZA 1,401 sq ft 130.20 sq m
First Floor Ancillary 385 sq ft 35.78 sq m

Price.

£1,170,000 (Subject to Contract and Exclusive VAT)

Location.

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.

Description.

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.

Rent.

£130,000.00 per annum exclusive

Tenure.

Freehold

Yield.

A net initial yield of 10.5%, allowing for graduated purchasers costs.

Share.

All viewings are strictly by prior appointment.

Will Civil.

Surveyor | Investment

David Freeman.

Partner | Investment

Jonny Gooch.

Associate Partner | Investment

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