4 East Street & 5 Vine Flats Ilminster Somerset TA19 0AJ

4 East Street & 5 Vine Flats
Ilminster
Somerset
TA19 0AJ

Freehold Retail and Residential Investment

Ground Floor Let to Boots UK Limited
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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Residential Investment

Ground Floor Let to Boots UK Limited
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

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

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.