Commercial Property For Sale
The property is set in a strong secondary trading location within Wells City Centre. Nearby occupiers include Whiting & Sons, Boots Opticians, St Margaret’s Hospice, as well as several independent retailers.
A partially let, mid-terrace, 3-storey mixed use property, with commercial over ground and first floors and an independently accessed 2-bedroom maisonette over second floor. No external land of note. The shop is let (see overleaf) the flat is to be sold with vacant possession, but otherwise the property is available as seen. Ladbrokes have been in occupation for over 20 years.
There is scope to increase the income through letting of the flat or adding value through redevelopment, subject to obtaining all necessary consents.
Information from the Valuation Office Agency website suggests the Ground floor extends to approximately 90.5 sq m / 974 sq ft and the first floor 55.8 sq m / 600 sq ft. Total Net Internal Area of 146.3 sq m / 1,575 sq ft. Indicative floor plans available on request.
The maisonette has a gross internal area of approximately 73 sq m / 786 sq ft.
Offers in the order of £425,000 are invited for the Freehold Interest, subject to and with the benefit of the existing tenancy on the shop.
We understand that the property benefits from connection to electric, water and drainage. Gas available nearby. Services and appliances not tested.
Rateable Value: – £25,250 (2023 List)
Council Tax: Flat above 70 – Band A
NO VAT payable
The property is not Listed but does fall within the Wells Conservation Area.