Freehold Retail Investment
Freehold Retail Investment
Wells is an affluent and historic Cathedral City, boasting a moated Bishop's Palace, a Cathedral School, an attractive Market Place and is a popular tourist destination. The High Street hosts a vibrant mix of national retailers plus a variety of independent, restaurants and pubs as well as a twice weekly market and a choice of supermarkets including Waitrose.
The property is situated on the west side of the high street with a prime trading position. Neighbouring occupiers include M&S Foodhall, Waterstones, Costa, Boots, Superdrugs, Card Factory and EE.
Freehold.
Wells is an affluent and historic Cathedral City, boasting a moated Bishop's Palace, a Cathedral School, an attractive Market Place and is a popular tourist destination. The High Street hosts a vibrant mix of national retailers plus a variety of independent, restaurants and pubs as well as a twice weekly market and a choice of supermarkets including Waitrose.
The property is situated on the west side of the high street with a prime trading position. Neighbouring occupiers include M&S Foodhall, Waterstones, Costa, Boots, Superdrugs, Card Factory and EE.
Freehold.
The property, a highly attractive period building comprises retail accommodation on the ground floor and ancillary accommodation on the first and second floors.
VAT is applicable to this lot.
Band D
The property, a highly attractive period building comprises retail accommodation on the ground floor and ancillary accommodation on the first and second floors.
VAT is applicable to this lot.
Band D
| Floor | Use | Floor Areas Approx sq m |
Floor Areas Approx sq ft |
Tenant | Term | Rent p.a.x. | Reversion |
|---|---|---|---|---|---|---|---|
| Ground First (part) |
Retail/Ancillary Ancillary |
116.13 53.36 - |
(1,250) (574) - |
NERO HOLDINGS LIMITED (CRN: 03288178) t/a Caffé Nero | 5 years from 25/12/2022 | £44,000 |
24/12/2027 |
| Basement First (part) Second |
Residential Maisonette | - |
- |
INDIVIDUAL | 999 years from 28/9/2005 (3) |
Peppercorn |
|
| Total Approximate Commercial Floor Area | 169.49 |
(1,824) (1) |
£44,000 |
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/145783186).
(2) For the year ending 31/05/2024 Nero Holdings Limited reported a Turnover of £333,295,000, a Pre-Tax Profit of £22,576,000 and a Shareholders Funds of £370,434,000 (NorthRow 23/09/2025).
(3) As to the Residential element of the property, the basement is let on a separate lease for a term of 999yrs from 28/9/2005.
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.
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