£325,000 (Guide Price) Under Offer

Property Summary

A VIRTUAL FREEHOLD MEDICAL INVESTMENT

Ground Floor Premises let to a BUPA subsidiary with a long standing Dentistry Use
10 Year FRI Lease from April 2020
Passing rent £20,500
The Vendors hold on a 999 year lease from 2015 with a share of the freehold

The premises are on the ground floor of a building with two floors above containing six flats, built in 1974. There is rear access off Lucky Lane to 3 Parking Spaces. In front there is 1 hour free patients parking.
The premises have been used for a dental practice since 1974 They were built as three flats. This is a potential alternative future use. The Vendors are Dentists retired from the practice.

An opportunity to acquire an established medical investment let to a Tenant with an excellent covenant

Property Description

LOCATION

Aylesbury is the County Town of Buckinghamshire some 40 miles NW of London. It has been awarded Garden Town Status. The town is in a period of major growth. The current population is over 60,000, increasing rapidly and a further significant village catchment. From Aylesbury Station Services reach London/ Marylebone in an hour. There is a wide shopping offer and extensive leisure facilities including the Landmark Waterside Theatre. Bucks retains the Grammar School system adding to its popularity.

TITLE

The Vendors own 3/10ths of the freehold. They hold a 999 year lease from the freeholders at a peppercorn from 2015. A service charge covers the maintenance of the main building and common parts. The fund has a surplus in the region of £15,000
The property is let to Oasis Dentalcare which is a subsidiary of BUPA whose global turnover in 2019 was £12.3bn
The lease is FRI. The term is 10 years from 28.4.20. The current Rent is £20,500. There is a review and a tenant break at 5 years. The use is as a Dental Surgery.
Copies of the lease documents are held by the Agent

EPC

The commercial EPC register shows a rating of D. The Agent has a copy of the register entry.

GUIDE PRICE

The Guide Price For the Dental Practice Investment is £325,000

OPTIONAL FURTHER OPPORTUNITY

The Vendors own 999 year leases on two of the flats in the Block. These flats are held by the Occupiers on the balance of the original 99 year leases with 53 years to run. The ground rents receivable are £120 per annum. In due course the occupiers will no doubt wish to renew when a premium will be required. The Vendors are prepared to consider selling their interest if the Purchaser of the Dental Investment is interested. please discuss with the Agent.

FURTHER INFORMATION

The sale is being dealt with by C J Pallet FRICS. All enquiries should be directed to him at 01296 625008 cp@cpallet.co.uk.