Retail property (high street) for sale
Property description & features
LOCATION
Located on the eastern side of Broad Street, a strong secondary trading position within Wells City Centre.
DESCRIPTION
The retail unit is let to DBM Investments Ltd an established franchise of Cook, the frozen food retailer. Originally let on a 15-year term from September 2010. An extension to the lease has just been agreed for 5 years extending the term until 29th September 2030. Passing rent of £1,625 per calendar month / £19,500 per annum, exclusive.
The office (first floor) is currently let to Jigsaw Recruitment Ltd at £250 per calendar month / £3,000 per annum, exclusive. 5 Year term from 9th March 2021 that was originally due to expire in March 2026. Please note, tenant has exercised their break clause under the lease and will vacate by 18th July 2024.
The maisonette is occupied on a periodic Assured Shorthold Tenancy, at £8,700 per annum / £725 per calendar month.
Full copies of the occupational leases are available on application following a successful viewing and at discretion of the Vendor.
SERVICES
We understand that the property benefits from connection to mains gas, electric, water and drainage. Gas combi boiler to the flat. Services and appliances not tested.
TERMS
Available Freehold, subject to and with the benefit of the existing occupational leases.
OUTGOINGS
Business Rates:
Shop – £17,250 (Rateable Value).
Office - £2,650 (Rateable Value).
Council Tax:
Maisonette – Band B
VAT
We understand VAT is NOT payable on the purchase price.
LEGAL COSTS
Each party to bear their own legal and professional costs
PARKING NOTES
None
PLANNING
The property is not Listed but does fall within the Wells Conservation Area. (Adjacent property No. 11 is listed).
Assumed Class E on the ground floor shop and first floor office. Assumed C3 on the maisonette.
VIEWING
Strictly by appointment only through the sole agents Cooper and Tanner 1908 Ltd -[use Contact Agent Button]
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Broadband availability and predicted speed
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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