Property

11 & 12 MARKET PLACE

A freehold investment for sale being part vacant and part let in the historic Market Town of Faringdon in the county of Oxfordshire.

Comprising one A3 takeaway unit and one A1 retail unit with office space above.

LOCATION

Faringdon lies in the south west corner of the county and is 18 miles from the city of Oxford and 12 miles from Swindon.

The town has a population approaching 9,000 and in addition services a large rural area. A substantial house building scheme is currently underway which will increase the town's population to over 10,000.

DESCRIPTION

A mainly rendered building with tile and slate roof dating from the early to mid 19th Century.

On the ground floor there are two shops with offices on two storeys above. The offices are accessed from a side alley and courtyard with additional rear emergency access for one of the shops.

The property has a prominent position in the Market Place.

SERVICES

Mains electricity, water and sewerage.

AREAS:

11 Market Place Ground Floor 56.67m2

12 Market Place Ground Floor 123.10m2

Market Place Upper Floors 123.10m2

Total NIA 302.87m2

ENERGY PERFORMANCE CERTIFICATES

The two ground floor units have an EPC rating of C. The upper floor offices are rated G.

TENURE

11 Market Place is currently let on a 9 year lease from 18th November 2014 as a takeaway unit. Repair liability is Internal Repairing and Insuring plus a shared cost of the maintenance of the structure of the building.

12 Market Place has recently become vacant and is currently being actively marketed by Marriotts Property LLP at a rental guide price of £13,000.

The upper floors of the building were recently let as an office and are now vacant. The second floor is unimproved and requires work before becoming usable space.

BUSINESS RATES

The current Rateable Value for the properties are:

11 Market Place £6,200

12 Market Place £9,900

The Upper Floors £9,400

PLANNING

The property lies within the Vale of White Horse District Council area and is subject to the current Local Plan 2031.

11 and 12 Market Place are Listed Grade II and fall within the town's Conservation Area.

Subject to planning consent it is felt the upper floors have potential for residential conversion.

TERMS

The property is being offered for sale freehold as a whole subject to the Lease of 11 Market Place.

Offers in excess of £345,000.

DIRECTIONS

The property can be found on the southern end of the Market Place adjoining The Bell Public House.

From Oxford take the A420 west towards Swindon. After about 16 miles take the first entrance into the Town Centre along London Street. The property is on the left hand side as you enter the Market Place. Post Code: SN7 7HP

VIEWINGS

By appointment with the selling agents. Ref: AJB.