Freehold Retail Investment with Development Potential (Subject to Consents)
Unbroken retail parade of three retail units
Located in busy market town
2,528 sq ft of vacant office space with development potential (subject to consents)
Large car park for approximately 15 cars
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 74
Auction 7th July 2016
Rent
Status Sold
Price £430,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
14 miles south of Bath, 25 miles north west of Salisbury
Roads
B3098, A350, A36
Rail
Westbury Rail
Air
Bristol International Airport
Situation
Westbury is a popular market town some 14 miles south of Bath, The property is situated in Westbury town centre on Warminster Road (A350) at its junction with B3098 close to High Street. Nearby occupiers include The Co-operative Funeral Care, Esso Garage and Allen & Harris Estate Agents.
Tenure
Freehold.
Location
Miles
14 miles south of Bath, 25 miles north west of Salisbury
Roads
B3098, A350, A36
Rail
Westbury Rail
Air
Bristol International Airport
Situation
Westbury is a popular market town some 14 miles south of Bath, The property is situated in Westbury town centre on Warminster Road (A350) at its junction with B3098 close to High Street. Nearby occupiers include The Co-operative Funeral Care, Esso Garage and Allen & Harris Estate Agents.
Tenure
Freehold.
Description
The property comprises a detached retail parade comprising three ground floor units with self contained office accommodation at first floor (See planning paragraph). To the rear the property benefits from a car park for approximately 15 cars.
VAT
VAT is applicable to this lot.
Planning
The property may be suitable for residential redevelopment under either permitted development or full planning consent. Plans for an indicative residential scheme to convert the first floor to 6 flats are available in the legal pack.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a detached retail parade comprising three ground floor units with self contained office accommodation at first floor (See planning paragraph). To the rear the property benefits from a car park for approximately 15 cars.
VAT
VAT is applicable to this lot.
Planning
The property may be suitable for residential redevelopment under either permitted development or full planning consent. Plans for an indicative residential scheme to convert the first floor to 6 flats are available in the legal pack.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Unit 35
Ground
Retail
158.39 sq m
(1,705 sq ft)
INDIVIDUAL (t/a Tale of Spice)
16 years from 31/01/2003
£9,220
(30/01/2019)
Unit 31
Ground
Retail
83.42 sq m
(898 sq ft)
LIKKS LTD (t/a Suave Coffee House & Wine Bar)
10 years from 12/10/2011 (1)
£7,500
12/10/2016 (11/10/2021)
Units 23-27
Ground
Retail
84.82 sq m
(913 sq ft)
IMPERIAL CHARITY PROMOTIONS (2)
6 years from 20/01/2014 (3)
£13,500
20/01/2017 (19/01/2020)
Units 25-37
First
Offices
234.85 sq m
(2,528 sq ft)
VACANT POSSESSION
Total
561.48 sq m
(6,044 sq ft)
£30,220
(1) The lease provided an option to determine on 12/10/2016. This option was not exercised by the tenant and the notice period has now passed. (2) Imperial Charity was founded in 1990 and aims to provide support and activities for people of all ages with Special Needs and Senior Citizens within the County of Wiltshire. (Source: imperialcharity.co.uk/about 10/06/2016) (3) The lease provides an option to determine on 20/11/2017