Includes three bedroom maisonette above let on AST
Nearby occupiers include Co-operative Supermarket and branches of Natwest, Barclays and Lloyds banks
VAT-free investment
Attractive Somerset Market Town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 21
Auction 30th March 2017
Rent £28,800 per Annum Exclusive
Status Sold
Price £388,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles south-east of Taunton, 29 miles north-east of Exeter, 41 miles south-west of Bristol
Roads
A303, A358, M5 (Junction 25)
Air
Bristol Airport
Situation
The property is situated in a prime location on the southern side of East Street, Ilminster's principle retailing thoroughfare. Other occupiers on East Street include Cooperative Supermarket and branches of Natwest, Barclays and Lloyds banks. There is also a Tesco Supermarket about 100m from the property, which also provides car parking for approximately 250 cars.
Tenure
Freehold.
Location
Miles
12 miles south-east of Taunton, 29 miles north-east of Exeter, 41 miles south-west of Bristol
Roads
A303, A358, M5 (Junction 25)
Air
Bristol Airport
Situation
The property is situated in a prime location on the southern side of East Street, Ilminster's principle retailing thoroughfare. Other occupiers on East Street include Cooperative Supermarket and branches of Natwest, Barclays and Lloyds banks. There is also a Tesco Supermarket about 100m from the property, which also provides car parking for approximately 250 cars.
Tenure
Freehold.
Description
The property comprises a ground floor shop with a self-contained three bedroom maisonette on the first and second floors. Boots occupy the adjoining property at 6 East Street which does not form part of the sale.
VAT
VAT is not applicable to this lot.
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 ground floor shop with a self-contained three bedroom maisonette on the first and second floors. Boots occupy the adjoining property at 6 East Street which does not form part of the sale.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground
Retail/Ancillary
175.12 sq m
(1,885 sq ft)
BOOTS UK LIMITED (1)
10 years from 17/12/2010 until 16/12/2020
£22,500
First/Second
Residential
Three bedroom maisonette with kitchen and bathroom
AN INDIVIDUAL
AST for 6 months from 28/02/2015 (Holding Over) at a monthly rent of £525
£6,300 (2)
Total
175.12 sq m
(1,885 sq ft)
(1) For the year ending 31st August 2015, Boots UK Limited reported a turnover of £9,198,000,000, pre-tax profits of £542,000,000 and a total net worth of £367,000,000 (Source: Experian Group 28/02/2017). (2) The rental income for the residential flat has been annualised.