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174-178 High Street, Slough 174-178 High Street, Slough, SL1 1JP
Use Class
E
Size
22,783 sq ft
Rent pa
POA
Price
£3,100,000
Market Sector
High Street Scheme
Key Features
Prime High Street Retailing location in Slough.
Freehold property totalling 22,783 sq ft.
Let to WH Smith and Savers with a WAULT of 1.91 years.
A total rental income of £289,000 pa, reflecting £12.68 per sq. ft.
Longer term redevelopment opportunity, subject to necessary planning consents.
Offers are sought on both an unconditional and a subject to planning (STP) basis in excess of £3,100,000 (Three Million One Hundred Thousand Pounds) subject to contract and exclusive of VAT. * Where STP offers are received the vendor would welcome proposals for overage.
This reflects an attractive net initial yield of 8.76%, assuming purchaser’s costs of 6.42%, equating to £136 psf.
Description
The freehold ownership of 174-178 includes two retail units which front onto the High Street, opposite the entrance to the Queensmere Shopping Centre.
WH Smith is arranged over ground, first, and second floor in part, and the Savers is arranged over ground floor only. Both properties have glazed frontages at ground floor and sit beneath a flat roof. There is land to the rear and some car parking demised to the tenants, that can be accessed via Chapel Street.
Internally the properties are fitted out to the tenant’s typical store fit outs with a large sales area and ancillary to the rear which includes a staff office and facilities.
Location
Slough is a town located in the county of Berkshire which lies 20 miles west of Central London and 3 miles north of Windsor. Slough is one of the most established towns located within the London Commuter Belt as a result of its transport links into the city. It is situated in the Thames Valley at the intersection of the M4, M40 and M25 motorways. The 2020 census reported a population of approximately 164,793.
The properties are located at the western end of the High Street where the pedestrian zone
begins, in a high footfall area between McDonalds and Boots. The Queensmere Shopping Centre is directly opposite the subject properties and the Observatory Shopping Centre is a short walk east along the High Street, along with a number of other retailers, both national and independants.
Accommodation
22,783 Sq.Ft
Financial
Costs
The property is elected for VAT, however it is anticipated that the transaction will be treated as a Transfer of a Going Concern (TOGC)
Sustainability
An EPC has been commissioned and will be available shortly upon request.
Disclamier
All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.
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