New 5 year lease renewal from June 2018 (subject to option)
Tenant in occupation for over 20 years
Prime trading location opposite Marks & Spencer with Primark, Greggs and Costa close by
VAT-free Investment
Lot 50
Auction 18th October 2018
Rent £30,650 per Annum Exclusive
Status Sold
Price £365,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
28 miles east of Taunton
40 miles south of Bristol
Roads
A30, A37, A303, M5
Rail
Yeovil Junction & Yeovil Penn Mill Railway Stations
Air
Bristol Airport
Situation
Yeovil is a historic and prosperous market town located in south Somerset. The property is situated in a prime trading location on the southern side of Middle Street, close to its junction with Silver Street and The Borough. Marks & Spencer is directly opposite, with other nearby occupiers including Greggs, Costa, WHSmith & Primark, with Boots the Chemist, The Edinburgh Woollen Mill and Waterstones also located on Middle Street. The Quedam Shopping Centre is located close by.
Tenure
Freehold.
Location
Miles
28 miles east of Taunton
40 miles south of Bristol
Roads
A30, A37, A303, M5
Rail
Yeovil Junction & Yeovil Penn Mill Railway Stations
Air
Bristol Airport
Situation
Yeovil is a historic and prosperous market town located in south Somerset. The property is situated in a prime trading location on the southern side of Middle Street, close to its junction with Silver Street and The Borough. Marks & Spencer is directly opposite, with other nearby occupiers including Greggs, Costa, WHSmith & Primark, with Boots the Chemist, The Edinburgh Woollen Mill and Waterstones also located on Middle Street. The Quedam Shopping Centre is located close by.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
D
Description
The property comprises a ground floor shop with ancillary accommodation on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Second
Retail/Ancillary Ancillary Ancillary
146.36 sq m 108.73 sq m 67.97 sq m
(1,575 sq ft) (1,170 sq ft) (732 sq ft)
SIGNET TRADING LIMITED (1) t/a H. Samuel
5 years from 24/06/2018 until 23/06/2023 (2) on a full repairing and insuring lease
£30,650
Total
323.06 sq m
(3,477 sq ft)
£30,650
(1) For the year ending 28th January 2017, Signet Trading Limited reported a turnover of £489,366,000, pre-tax profits of £31,096,000 and a total net worth of £241,706,000. Signet Jewellers is the world’s largest specialist jeweller. H Samuel trades from over 300 stores nationwide (Source: Experian Group and www.hsamuel.co.uk 09/08/2018). (2) The lease provides for a tenant option to determine on 23rd June 2021. If the tenant activates the break clause, then a rent penalty of £11,494 will be payable to the landlord. If the tenant does not activate the break clause, then the landlord will pay the tenant a sum of £11,494 within 21 days of the break date.
