Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles east of Weston-Super-Mare, 17 miles south-west of Bristol, 27 miles west of Bath
Roads
A371, M5 (Junction 21)
Rail
Worle Rail
Air
Bristol International Airport
Situation
Banwell is a densely populated village in Somerset, some 5 miles east of Weston-Super-Mare. The property is situated in a prominent roadside location on the northern side of Knightcott Road (A371) and has good links to the M5 Motorway.
Tenure
Freehold.
Location
Miles
5 miles east of Weston-Super-Mare, 17 miles south-west of Bristol, 27 miles west of Bath
Roads
A371, M5 (Junction 21)
Rail
Worle Rail
Air
Bristol International Airport
Situation
Banwell is a densely populated village in Somerset, some 5 miles east of Weston-Super-Mare. The property is situated in a prominent roadside location on the northern side of Knightcott Road (A371) and has good links to the M5 Motorway.
Tenure
Freehold.
Description
The property comprises a ground floor convenience store with a self-contained first floor residential flat. The site has an approximate site area of 0.27 hectares (0.43 acres) with on-site car parking for some 20 cars.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor convenience store with a self-contained first floor residential flat. The site has an approximate site area of 0.27 hectares (0.43 acres) with on-site car parking for some 20 cars.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
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
Reviews
Ground First
Retail/Ancillary Residential
343 sq m 65 sq m
(3,700 sq ft) (700 sq ft)
THE SOUTHERN CO-OPERATIVE LTD (1) (t/a The Cooperative Food) (2)
15 years from 14/07/2015 until 13/07/2030 on a full repairing and insuring lease
£68,000
14/07/2020 and 14/07/2025 (3)
Totals
408.7 sq m
(4,400 sq ft)
£68,000 rising to a minimum of £71,469 pa in 2020 and £75,114 pa in 2025
(1) For the year ending January 2015, The Southern Co-Operative Ltd reported a turnover of £350,505,000, pre-tax profits of £2,366,000 and a total net worth of £89,291,000. (Source: www.riskdisk.com 15/09/2015) (2)The Co-operative Group is the UK’s fifth biggest food retailer operating across the country with almost 2,800 local, convenience and medium size stores (Source: www.co-operative.com 15/09/2015) (3)The rent reviews are linked to the Retail Price Index subject to a minimum of 1% and a maximum of 4% compounded per annum. The rent will therefore increase to a minimum of £71,469 pa in 2020 and £75,114 pa in 2025.
Contacts
Seller's Solicitors
Axiom Stone DVS House 4 Spring Villa Road Edgware Middlesex HA8 7EB
