Freehold Retail Investment and Residential Opportunity
Freehold Retail Investment and Residential Opportunity
The property is situated in a prominent corner location at the junction of High Street and Bath Street. The property is located close to Regent Walk Shopping Centre, which houses retailers including Costa, New Look, Poundland and Peacocks. Other nearby occupiers include Boots the Chemist, Wilko, Sports Direct, Iceland and B&M Bargains.
Freehold.
The property is situated in a prominent corner location at the junction of High Street and Bath Street. The property is located close to Regent Walk Shopping Centre, which houses retailers including Costa, New Look, Poundland and Peacocks. Other nearby occupiers include Boots the Chemist, Wilko, Sports Direct, Iceland and B&M Bargains.
Freehold.
The property comprises an unbroken parade of six shops arranged on the ground and first floors with six separately accessed residential flats (in shell condition) arranged on the second floor.
VAT is not applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises an unbroken parade of six shops arranged on the ground and first floors with six separately accessed residential flats (in shell condition) arranged on the second floor.
VAT is not applicable to this lot.
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
| Unit | Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review/ (Reversion) |
|
|---|---|---|---|---|---|---|---|---|
| 17-18 Bath Street |
Ground First |
Restaurant/ Ancillary Restaurant/ Ancillary |
74.70 sq m 59.00 sq m |
(804 sq ft) (635 sq ft) |
M. H ROBERTS LIMITED t/a Oliver’s Fish & Chip Restaurant |
25 years from 29/09/2011 |
£17,500 | 29/09/2021 and 5 yearly thereafter (28/09/2036) |
| 17-18 Bath Street |
Second | Residential - One bedroom flat |
- |
(-) |
SEARCHGRADE LIMITED |
999 years from 31/03/2004 |
Peppercorn | – |
| 59 High Street |
Ground First |
Retail Ancillary |
82.53 sq m 71.50 sq m |
(888 sq ft) (770 sq ft) |
DAWSON & SANDERSON LIMITED t/a Dawson Travel Agents |
10 years from 18/09/2015 (1) |
£16,750 | 18/09/2020 (17/09/2025) |
| 59 High Street |
Second | Residential - One bedroom flat |
- |
(-) |
VACANT | - | - | - |
| 61 High Street |
Ground First |
Retail Ancillary |
69.30 sq m 58.70 sq m |
(746 sq ft) (632 sq ft) |
P. MORGANS BAKERY LIMITED t/a Morgan’s Bakery |
25 years from 26/06/1988 |
£23,000 | Holding Over |
| 61 High Street |
Second | Residential - One bedroom flat |
- |
(-) |
VACANT | - | - | - |
| 63 High Street |
Ground First |
Retail Ancillary |
85.80 sq m 63.30 sq m |
(924 sq ft) (681 sq ft) |
SALVATION ARMY TRADING COMPANY LIMITED t/a The Salvation Army (2) |
2 years from 04/04/2014 |
£8,000 | Holding Over |
| 63 High Street |
Second | Residential - One bedroom flat |
- |
(-) |
VACANT | - | - | - |
| 65 High Street |
Ground First |
Retail Ancillary |
88.80 sq m 62.80 sq m |
(956 sq ft) (676 sq ft) |
VACANT | - | - | - |
| 65 High Street |
Second | Residential - One bedroom flat |
- |
(-) |
VACANT | - | - | - |
| 65a High Street |
Ground First |
Retail Ancillary |
85.50 sq m 60.70 sq m |
(920 sq ft) (653 sq ft) |
VACANT | - | - | - |
| 65a High Street |
Second | Residential - One bedroom flat |
- |
(-) |
VACANT | - | - | - |
| Total Commercial Area | 862.58 sq m |
(9,285 sq ft) |
£65,250 | |||||
(1) The lease is subject to a tenant option to determine on 18th September 2020.
(2) The Salvation Army was founded in 1865 and is active in over 128 countries with over 4,000 employees. For the year ending 31st March 2016, Salvation Army Trading Company Limited reported a turnover of £44,410,620, pre-tax profits of £852,010 and a total net worth of £9,877,847 (Sources: www.salvationarmy.org.uk and Experian Group 09/06/2017).
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