Let as Doctors Surgery with guarantee from Yeovil District Hospital NHS Trust
15 year lease expiring April 2031 (subject to option)
3 yearly Rent Reviews (rent increased from 19,000 pa in 2019)
Future change of use potential
VAT-free investment
Historic Somerset Centre
Lot 2
Auction 23rd September 2020
Rent £20,250 per Annum Exclusive
Status Sold
Price £350,000
Sector Medical Centre/Doctors, Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
5 miles north of Yeovil
24 miles east of Taunton
Roads
A37, A303, A327
Rail
Air
Bristol International Airport
Situation
Ilchester is an attractive and historic Somerset town, approximately 5 miles north of Yeovil and 24 miles east of Taunton. The property is located on the south side of Church Street, close to High Street and adjacent to the Ilchester Arms Hotel. Various independent shops, pubs and restaurants are located nearby.
Tenure
Freehold.
Location
Miles
5 miles north of Yeovil
24 miles east of Taunton
Roads
A37, A303, A327
Rail
Air
Bristol International Airport
Situation
Ilchester is an attractive and historic Somerset town, approximately 5 miles north of Yeovil and 24 miles east of Taunton. The property is located on the south side of Church Street, close to High Street and adjacent to the Ilchester Arms Hotel. Various independent shops, pubs and restaurants are located nearby.
Tenure
Freehold.
Description
The property comprises a doctors surgery, arranged on the ground and part first floors. Part of the first floor has been let on a long lease to a Dental Surgery. The property includes on-site parking to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion Available
EPC
Band C. See legal pack at www.acuitus.co.uk
Description
The property comprises a doctors surgery, arranged on the ground and part first floors. Part of the first floor has been let on a long lease to a Dental Surgery. The property includes on-site parking to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion Available
EPC
Band C. See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Gross InternalFloor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Part First
Doctors Surgery
163.23 sq m 33.44 sq m
(1,757 sq ft) (360 sq ft)
THE YEOVIL PROPERTY OPERATING COMPANY LIMITED (t/a Ilchester Surgery) with a guarantee from YEOVIL DISTRICT HOSPITAL NHS TRUST (1)
15 years from07/04/2016 until 06/04/2031 (2)
£20,200
07/04/2022, 07/04/2025, 07/04/2028
Part First
Dental Surgery
97.55 sq m
(1,050 sq ft)
ROWANMOOR TRUSTEES LIMITED AND PAULA RICHARDSON
999 years from 03/09/1980 (3)
£50
-
Total Commercial Area
393.34 sq m
(3,167 sq ft)
£20,250
(1) The lease is excluded from the provision of the 1954 Landlord & Tenant Act. (2) The lease is subject to a tenant option to determine on 07/04/2024 subject to 9 months notice. (3) Part of the first floor is held on two leases, each let to the same tenant on the same terms, each at 25 pa, totalling 50pa.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
