Property Details

A detached, Grade II Listed, two-storey commercial building comprising two self-contained retail units, under Use Class E Commercial, Business & Service (see Agent‘s notes below regards a recent planning consent for the ground floor).                   

Location

The historic market town of Wantage, along with nearby Grove, is located in affluent southern Oxfordshire and both are growing rapidly in population terms which is set to continue for several years yet. Wantage is approximately 15 miles southwest of Oxford at the junction of the A338 and A417, approx. 6 miles west of the A34 &ldquoMilton interchange&rdquo near Didcot.

The premises are located on the west side of busy Newbury Street which is the sole route in/out of the town centre from the south, adjacent to the junction with Church Street and a short walk from the public car park off Church St. Postcode OX12 8BS.

Composition – The part ground and part upper floor restaurant (trading as Peking Dynasty)

Presently let under a regular Landlord & Tenant Act ‘54 lease and yielding a rent of £19,000pax

and

The part ground floor and part upper floor shop presently available to let at £7,000pax. Full details are available separately on request or via our website.

Price guide and terms

Unconditional offers based on a guide price of £285,000 are invited for the freehold interest.

VAT

We understand that VAT is not payable in addition to the purchase price.

Business Rates (payable by the occupiers)

Rateable Values (April 2023) – Vacant shop £4,500, restaurant £7,300. The Small Business Rate Multiplier for 2024/25 is x 0.499 ( £2,495.00 and £3,642.70 payable) but, as the RVs are below £12,000 the occupiers should benefit from Small Business Rate Relief meaning £Nil rates payable.

Utility services

We understand mains services are directly metered. Telephone/broadband services are by the occupiers‘ own subscriptions.

Energy Rating

A very good B/49. Full details available on request.  

Local planning and rating authority

Vale of White Horse District Council 

Abbey House, Abbey Close, Abingdon OX14 4SE 

Tel 01235 422422   

Viewing

By prior arrangement with the sole agent, Green & Co Commercial and Development Agency, Monday to Friday only between 9am and 6pm. Tel. 01235 763561 ref. OM or email oliver.martin@greenand.co.uk

Agent‘s notes

1. The building is located in the designated Conservation Area.
2. Planning consent was granted in 2023 for alterations to and of the vacant. Full details are available on request or refer to VWHDC‘s planning dept‘s website ref P23/V1173/LB, consent was dated 12th July 2023. This validated the proposed change of use to a restaurant and associated alterations.
3. Compliance with the UK‘s Money Laundering Regulations 2017 requires all offers to purchase to be verified regarding the source of funds and the identity of the purchaser and any ultimate beneficial owner. Offers to purchase are requested to be submitted in a prescribed, written format which can be supplied on request.