A1 - Shops For Sale
LOCATION
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.
DESCRIPTION
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.
ACCOMMODATION
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.
SERVICES
We understand that mains water, electricity and drainage are connected. Electric heater. Services and appliances not tested.
TERMS
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.
Shop Lease
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.
OUTGOINGS
Local Council:
Mendip District Council - 0300 303 8588
Business Rates: £11,500
Small business rate relief may apply.
VAT
We understand the property is not elected for VAT.
VIEWING
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
No EPC available for this property
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