Gail's Bakery puts its Thame town centre store up for auction with £1.7m asking price
A popular bakery chain has made its Thame town centre store available to purchase via an upcoming auction.
It has been revealed that the Gail’s Bakery located on Cornmarket is being put up for auction on September 18.
Acuitus is inviting people to bid for the ground floor store which opened as a bakery in Thame last year. Interested parties can find out more details online, and submit bids via telephone and by proxy, as well as using the auctioneer’s online service.
Acuitus has revealed that a successful bidder will also become the owner of two self-contained and separately accessed flats on the upper floors. It has also been confirmed that the unit is available at a guide price of £1.70m-£1.77m.
It is hoped that the unit’s central location within Thame will appeal to bidders, with bars and other popular shops like Sainsbury’s, within a short walk of the store.
A spokesperson for Acuitus said: “In total, the property generates an annual rental income of £110,400, with the ground floor let to Gail's Limited on a new 15 year lease until March 2039, and both upper floor flats on assured shorthold tenancy agreements for a term of 12 months from December 2024.”
It has also been revealed that the company’s auction will be available to live stream. John Mehtab of Acuitus said: “This striking property is highly desirable both for investments into retail business and residential, and one which offers returns over the long-term and asset management potential with the ASTs.”