Broad Street, Wells, Somerset, BA5

££395,000

Retail Property - High Street For Sale

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 - 0345 0347758

Tenure: Please confirm with Cooper and Tanner Commercial whether this property is freehold or leasehold

Broad Street, Wells, Somerset, BA5
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Office Details

Commercial Office
41 High Street
Glastonbury
BA6 9DS

0345 0347758
commercial@cooperandtanner.co.uk

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