Mixed Investment Opportunity Grade II Listed building in the centre of Burford consisting of two thriving commercial retail units and two residential properties, one tenanted, one vacant. Total Floor Area 3999 sq ft (371.5 sqm)
LOCATION 53-59 High Street is situated in the heart of the well known medieval town of Burford, famous for being the gateway to the Cotswolds and set on the River Windrush. Burford is within the Cotswolds National Landscape and the Burford Conservation Area. Burford provides an excellent range of local shops and amenities, butcher, post office, general store and doctor's surgery. In addition, there are antique shops, boutiques, restaurants, famous coaching inns and public houses.
DESCRIPTION 53-59 High Street represents a rare opportunity to acquire a stunning collection of four period properties comprising both commercial premises and residential use located in the centre of the beautiful town of Burford.
The property comprises two commercial premises and two residential premises:
* The popular café and bakery situated across the ground and first floors with outside dining area within a sheltered courtyard to the rear of the property.
* Busy retail gift shop on the ground floor with three useful storerooms and WC.
* Large two bed, two bath duplex apartment on the first and second floors.
* Additionally, a garden cottage with two bedrooms, two bathrooms and a terraced courtyard.
* Large garden with lawn and sheds.
* There is a gated rear access via Burgage Gardens with off street parking.
This is a fantastic investment opportunity with established income across the three properties currently let with the cottage being offered with vacant possession.
Investment Overview Consisting of a commercial income of £30,500 and potential residential income of £46,200, subject to both residential properties being occupied.
Entrance Flagstone pathway from the High Street with a timber framed glass panel front door through to the courtyard. The entrance to the bakery on the left and the gift shop on the right within the passage. The courtyard in front of the cottage is used with permission from the current owners to be used during the warmer months by the café as an outdoor dining area, with a range of outdoor furniture and table umbrellas. There is a low height iron fence with gate between the courtyard and cottage. Access here is to the retail shop storage and WC.
53 High Street - Café & Bakery Café and bakery with glazed window to the front elevation. Exposed oak timber beams with timber and tile flooring. Large open plan dining area on the ground floor with food preparation including ovens and sales counter with customer cloakroom. Stairs to the first floor to additional dining area and storage space. Access to a large cellar is from the café through a floor hatch in the café.
* Term: 8 year lease from 21st October 2019 * Rent Passing: £17,500pa * Insurance: 40% tenant contribution * Use: Class E * Demise: Ground and first floor premises * LTA 1954: Contracted out of sections 24-28 * Rent Review: 21st October 2022, 3rd anniversary thereafter - not enacted * Rent Review Mechanism: Upward Only * Rent Intervals: Monthly * Break Clause: 21st October 2023
59 High Street - Retail Gift Shop Single commercial unit with glazed windows to the front elevation to the High Street, with Amtico wood effect flooring. It has three storage rooms behind, with access from the courtyard, to include a WC.
* Lease Dated: 25th July 2013 * Term: 5 year lease commencing 11th May 2013 * Holding Over: Yes * Rent Passing: £13,000pa * Insurance: 25% tenant contribution * Use: Class E (formally A1) * Demise: Ground floor shop, storage area & WC * LTA 1954: Contracted out of sections 24-28 * Last Rent Review: Not reviewed on review date of 7th May 2015 * Rent Review Mechanism: Upward Only * Rent Intervals: Monthly * Alienation: Prohibited * Break Clause: Annual rolling, mutual break, on anniversary of lease by either party serving two months notice.
57 High Street - The Flat A duplex apartment, accessed from the front door via the ground floor passage up to the first floor, leading to a landing with a shower room with WC and basin, a fitted kitchen, both overlooking the courtyard, a sitting room and one double bedroom looking out onto the High Street. Stairs leading to the second floor, consisting of an impressive period vaulted living space or second bedroom. Set across the width of the building with great views across the High Street. There is a bathroom with roll top bath, basin and WC.
55 High Street - The Garden Cottage The garden cottage consists of an entrance lobby, a sitting room with a recessed fireplace and a wood burning stove with oak beam above. Windows overlooking the front courtyard and to the back garden patio terrace and lawn beyond. The dining room has a Rayburn, with doors leading to both the conservatory and to the fitted kitchen. Shower room with WC and basin. Staircase to the first floor.
Upstairs there are two well sized double bedrooms with fitted wardrobe and cupboards. Exposed beams with views over the front courtyard and rear garden. Bathroom with roll top bath, WC and basin.
The cottage is primarily double glazed and has oil fuelled central heating and Rayburn. Externally there is a terraced courtyard which leads onto a lawn area with sheds.
Parking area is beyond the garden with access via Burgage Gardens with security gated access.
Lawn & Parking To the rear of the property is a lawn area with a number of garden sheds and steps down to the off street parking for two cars.
AGENTS NOTES Tayler & Fletcher hold all information on the commercial leases and APT for residential. Viewing by appointment only.
