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Key information
Tenure: Freehold
Council tax: Ask agent
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Features and description
- Town centre location in the heart of Marlow
- Planning permission to convert to residential
- Suitable for alternative uses, subject to planning
- Splits well into ground, first and second floor spaces
- Large rear garden
- EPC Rating = C
In the centre of town is this freehold three-storey retail and office building with planning consent in place to convert to residential use. Suitable for a variety of uses.
Description
The property is a vacant freehold end-of-terrace three-storey Victorian building, occupying a great position on West Street in the centre of town. Built in the 1860s as a family home, subsequently converted to office use in the 1960s. Currently used as a retail business to the ground floor and two separate office suites to the first and second floor. There is a shared kitchen and cloakroom facilities on the first floor.
To the rear of the unit there is a long garden, securely enclosed to the sides and rear and providing a lovely entertainment space.
Previous use includes a interiors retailer to the ground floor (Fired Earth) and a private office tenant to the second floor. The current vendors occupied the first floor. The property is now to be sold with full vacant possession.
Planning Notes
Planning permission for conversion has been granted to convert the building into residential use being a self-contained apartment to the ground floor and then a larger self-contained apartment to the upper floors. It may be that a buyer converts the first and second floors into two independent residential units (creating three units in total) or perhaps converts the entire building into one larger family home. Or perhaps still, finds an otherwise equally suitable use for the space either commercially or residentially.
Furthermore it may be that a buyer merely utilises the space as is. Building Regulations consent was obtained to add a w.c. and kitchenette to the shop making it self-contained. All change of uses are subject to obtaining planning consent.
Yield
Previous income from the building include:
1. Ground floor retail - £22,500 per annum exclusive
2. First floor office - nil (occupied by the vendor)
3. Second floor office - £5,000 per annum exclusive
The seller believes that the Gross commercial income achievable in the current market is believed to be in the region of £42,000 p.a., representing an initial yield of 4.67%. This comprises £22,000 for the shop, with use of the garden, and £20,000 for the offices.
Business Rates
Wycombe Council. Rateable values (2022/23):
Ground Floor: £19,250
First Floor Rear: £4,500
First Floor Front: £2,300
Second Floor: £3,300
Therefore rates payable (assumed) at 49.9%: £14,645.65
Agents Note:
Whilst options for various uses is stated, as is the existence of planning consent, buyers must fully satisfy themselves of the usage options before committing. Rates and payable ratios must be checked by interested parties.
Location
West Street is a street of mixed buildings, mostly mixed-use retail, office and restaurants to the northern end (at its junction with High Street) and becoming intermingled with residential building as it heads away from the centre.
This building is on the vibrant West Street about 160m from the High Street, adjacent to and opposite a variety of occupiers including motor retail, Cote Brasserie, a hairdresser and insurance brokerage. There are also residential homes along the street and opposite this unit.
Marlow town more generally offers a superb range of shops, with an eclectic mix of local independent and national retailers. There are numerous bars, cafes and restaurants dotted around the town offering destinations for any occasion. The town itself is situated on the banks of the River Thames and the Thames Path follows the river through the town.
Just outside the town, the area opens out to glorious rolling countryside and a designated Area of Outstanding Natural Beauty. Outdoor pursuits are numerous, as are golf, football, cricket and rugby clubs.
For commuters, the town has a train station to Paddington (via Maidenhead) and the M4 and M40 motorways are accessed from the A404(M) which passes the town.
A comprehensive range of private and state schooling options, both primary and secondary, in the area include Sir William Borlase’s Grammar School which is half-a-mile away, Great Marlow School and many private options in the surrounding area.
Square Footage: 2,049 sq ft
Directions
From the top of Marlow’s High Street (at the war memorial roundabout) take the first turning on to West Street. Head along the road for about 160 metres where the building can be found on the left hand side of the road.
Additional Info
Council Tax Band = TBC
Description
The property is a vacant freehold end-of-terrace three-storey Victorian building, occupying a great position on West Street in the centre of town. Built in the 1860s as a family home, subsequently converted to office use in the 1960s. Currently used as a retail business to the ground floor and two separate office suites to the first and second floor. There is a shared kitchen and cloakroom facilities on the first floor.
To the rear of the unit there is a long garden, securely enclosed to the sides and rear and providing a lovely entertainment space.
Previous use includes a interiors retailer to the ground floor (Fired Earth) and a private office tenant to the second floor. The current vendors occupied the first floor. The property is now to be sold with full vacant possession.
Planning Notes
Planning permission for conversion has been granted to convert the building into residential use being a self-contained apartment to the ground floor and then a larger self-contained apartment to the upper floors. It may be that a buyer converts the first and second floors into two independent residential units (creating three units in total) or perhaps converts the entire building into one larger family home. Or perhaps still, finds an otherwise equally suitable use for the space either commercially or residentially.
Furthermore it may be that a buyer merely utilises the space as is. Building Regulations consent was obtained to add a w.c. and kitchenette to the shop making it self-contained. All change of uses are subject to obtaining planning consent.
Yield
Previous income from the building include:
1. Ground floor retail - £22,500 per annum exclusive
2. First floor office - nil (occupied by the vendor)
3. Second floor office - £5,000 per annum exclusive
The seller believes that the Gross commercial income achievable in the current market is believed to be in the region of £42,000 p.a., representing an initial yield of 4.67%. This comprises £22,000 for the shop, with use of the garden, and £20,000 for the offices.
Business Rates
Wycombe Council. Rateable values (2022/23):
Ground Floor: £19,250
First Floor Rear: £4,500
First Floor Front: £2,300
Second Floor: £3,300
Therefore rates payable (assumed) at 49.9%: £14,645.65
Agents Note:
Whilst options for various uses is stated, as is the existence of planning consent, buyers must fully satisfy themselves of the usage options before committing. Rates and payable ratios must be checked by interested parties.
Location
West Street is a street of mixed buildings, mostly mixed-use retail, office and restaurants to the northern end (at its junction with High Street) and becoming intermingled with residential building as it heads away from the centre.
This building is on the vibrant West Street about 160m from the High Street, adjacent to and opposite a variety of occupiers including motor retail, Cote Brasserie, a hairdresser and insurance brokerage. There are also residential homes along the street and opposite this unit.
Marlow town more generally offers a superb range of shops, with an eclectic mix of local independent and national retailers. There are numerous bars, cafes and restaurants dotted around the town offering destinations for any occasion. The town itself is situated on the banks of the River Thames and the Thames Path follows the river through the town.
Just outside the town, the area opens out to glorious rolling countryside and a designated Area of Outstanding Natural Beauty. Outdoor pursuits are numerous, as are golf, football, cricket and rugby clubs.
For commuters, the town has a train station to Paddington (via Maidenhead) and the M4 and M40 motorways are accessed from the A404(M) which passes the town.
A comprehensive range of private and state schooling options, both primary and secondary, in the area include Sir William Borlase’s Grammar School which is half-a-mile away, Great Marlow School and many private options in the surrounding area.
Square Footage: 2,049 sq ft
Directions
From the top of Marlow’s High Street (at the war memorial roundabout) take the first turning on to West Street. Head along the road for about 160 metres where the building can be found on the left hand side of the road.
Additional Info
Council Tax Band = TBC
About this agent
Whether you’re looking for a charming village cottage, a large town centre home, or a sizeable riverside retreat, our teams at Savills Marlow know the best places to find property for buyers and tenants, as well as how to most effectively look after property transactions. Our database of buyers and tenants has grown to become second to none in the area, thanks to our longstanding experience and reputation for selling and letting homes in Marlow. Most importantly, our experts take the time to listen to you and help find exactly what you’re looking for. We set ourselves apart from our competitors by combining our expertise with that of our colleagues from surrounding offices in Henley, Windsor and Beaconsfield, as well as our extensive network of London and international offices to help source buyers and tenants alike. Most visited website Savills.co.uk is the most visited UK national estate agency website, averaging over 2.4 million visits a month in 2020, and recording over 3.1 million visits in January 2021. Global exposure Our site is available in 22 languages including English, Chinese, Spanish and Russian. This guarantees your property will have the global exposure it deserves as well as providing access to more buyers via our website. Put simply, because we get more qualified visits, you get more opportunities to sell.