A1 - Shops For Sale
The property is situated off Sadler Street in close backing onto the Cathedral Green at the rear and a short distance from Market Place and the High Street.
Investment opportunity, representing a gross initial yield of 8% based on the guide price. The property comprises a ground floor retail unit within a Grade II listed building and is available to purchase on a long-leasehold basis subject to an existing lease. Currently occupied as a popular hairdressing salon Marshfield & Buckley.
The accommodation is arranged solely over the ground floor which comprises as follows.
Retail/Trading Area max depth 7.68m x max width 4.56m (28.70m2)*. Step up to Lobby (4.23m2). Kitchen (2.50m2). WC (0.88m2), Office/Store (5.71m2) include built in cupboard. Treatment Room (7.08m2).
Gross Internal Area: 49.10m2 (528.5ft2)
*Low head height beam – 1.78m.
The property is in good decorative order and has been very well-presented by the current tenants.
We understand that mains water, electricity and drainage are connected. Electric heater. Services and appliances not tested.
Long Leasehold - Long Leasehold, full details to be determined. 999-year lease. Ground Rent £170 pa. Building maintenance costs to be apportioned 1/3rd basis.
Occupied as a hairdressing salon under a commercial lease dated 1st January 2021 for a term of 5 years. Current passing rent £14,000 pa. Additional lease terms will be available from the selling agents to seriously interested parties at the discretion of the Vendors.
Mendip District Council - 0300 303 8588
Business Rates: £11,500
Small business rate relief may apply.
We understand the property is not elected for VAT.
Strictly by appointment only through the selling agents Cooper and Tanner. Please do not attend the property unannounced.
Telephone: 03450 347758
Tenure: Please confirm with Cooper and Tanner Commercial whether this property is freehold or leasehold