66 High Street Wells Somerset BA5 2AJ

66 High Street
Wells
Somerset
BA5 2AJ

Freehold Retail Investment

  • Retail Let on a New Lease to Boots Opticians Professional Services Limited until 2026 (subject to option)
  • Busy High Street location
  • Popular and Historic Cathedral City
  • Nearby occupiers include WH Smith, Lloyds Bank, Ladbrokes and Vodafone
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    25
  • Auction
    16th February 2017
  • Rent
    £36,100 per Annum Exclusive
  • Status
    Sold
  • Price
    £575,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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* More information on the term "guide" can be found here

Freehold Retail Investment

  • Retail Let on a New Lease to Boots Opticians Professional Services Limited until 2026 (subject to option)
  • Busy High Street location
  • Popular and Historic Cathedral City
  • Nearby occupiers include WH Smith, Lloyds Bank, Ladbrokes and Vodafone
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 25
  • Auction 16th February 2017
  • Rent
  • Status Sold
  • Price £575,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
17 miles south-west of Bath, 20 miles south of Bristol, 51 north-west of Exeter
Roads
A371, B3139
Air
Bristol Airport
Situation

Wells is a popular and historic cathedral city located immediately south of the Mendip Hills, an area of outstanding natural beauty and home to the Cheddar Gorge - a popular tourist destination. The property is well located on the north side of High Street, close to its junction with Broad Street, in the heart of Wells City centre. Nearby occupiers include WH Smith, Lloyds Bank, Ladbrokes and Vodafone.

Tenure

Freehold.

Location
Miles
17 miles south-west of Bath, 20 miles south of Bristol, 51 north-west of Exeter
Roads
A371, B3139
Air
Bristol Airport
Situation

Wells is a popular and historic cathedral city located immediately south of the Mendip Hills, an area of outstanding natural beauty and home to the Cheddar Gorge - a popular tourist destination. The property is well located on the north side of High Street, close to its junction with Broad Street, in the heart of Wells City centre. Nearby occupiers include WH Smith, Lloyds Bank, Ladbrokes and Vodafone.

Tenure

Freehold.

Description

The property is a Grade II listed building comprising ground floor retail accommodation with residential accommodation on the first floor.

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 is a Grade II listed building comprising ground floor retail accommodation with residential accommodation on the first floor.

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 Review/(Reversion)
Ground Retail
93.27 sq m
(1,004 sq ft)
BOOTS OPTICIANS
PROFESSIONAL
SERVICE LIMITED
AND ROGERS
OPTICAL LIMITED (1)
10 years from
14/10/2016
until 2026 (2)
£36,000 (3) 14/10/2021
First Residential
Not Measured
INDIVIDUAL 150 years from
21/04/2011
£100 (20/04/2161)
Total Commercial Area
93.27 sq m
(1,004 sq ft)
    £36,100  

(1) For the year ending 31st August 2015, Boots Opticians Professional Services Limited reported a turnover of £391,067,000, pre-tax profits of £39,176,000 and a total net worth of £82,691,000 (Source: Experian Group 12/01/2017). Rogers Optical Limited were incorporated in 2014 and are a Boots Opticians franchisee operator.
(2) The lease provides for a tenant option to determine the lease on 14/10/2021.
(3) As to the lease of the retail accommodation, the lease provides for a 25% rent concession for the first two quarters from the start of the lease. The rent payable on the 25th March 2017 quarter will be £6,750. The seller will pay the buyer the difference between the full rent due of £9,000 and the concessionary rent of £6,750 by way of an adjustment to the completion statement.

Property Documents

  • Site Plan
    Updated Date
    12.11.19
    File Size
    111 KB
    View PDF
  • Catalogue Page
    Updated Date
    12.11.19
    File Size
    504 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Beeton Edwards LLP Unit C, Drivers Wharf Business ParkNortham Road
Southampton
Hampshire
SO14 0PF
Dominic Beeton 02380 382 850dominic@beetonedwards.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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