52 High Street Wells Somerset BA5 2SN

52 High Street
Wells
Somerset
BA5 2SN

Freehold Retail and Residential Investment

Comprising ground floor shop and two one bed flats on the upper two floors
Grade II Listed
Shop let on a new 5 year lease with fixed rental increase (1) (subject to option to determine)
Highly Affluent Somerset Cathedral City (with Waitrose Supermarket within 250 metres)
Prominent City Centre Location
Nearby occupiers include The Works, BHF, Superdrug, Fat Face, Holland & Barrett and Boots
VAT Free Investment

Lot
2
Auction
15th February 2024
Rent
£31,600 per Annum Exclusive
Status
Sold
Price
£320,000
Auction Venue
Live Streamed Auction

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Freehold Retail and Residential Investment

Comprising ground floor shop and two one bed flats on the upper two floors
Grade II Listed
Shop let on a new 5 year lease with fixed rental increase (1) (subject to option to determine)
Highly Affluent Somerset Cathedral City (with Waitrose Supermarket within 250 metres)
Prominent City Centre Location
Nearby occupiers include The Works, BHF, Superdrug, Fat Face, Holland & Barrett and Boots
VAT Free Investment

Lot 2
Auction 15th February 2024
Rent £31,600 per Annum Exclusive
Status Sold
Price £320,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles south-west of Bath, 17 miles south of Bristol
Roads: A39, A361, A37, M5, M4
Rail: Castle Cary Railway Station
Air: Bristol Airport

Situation

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 well located in the heart of Wells city centre on the northern side of High Street close to its junction with Broad Street. The property benefits from close proximity to Union Street & South Street Car Parks both within 100 metres and the Cathedral at Market Place. Nearby occupiers include The Works, BHF, Superdrug, Fat Face, Holland & Barrett and Boots.

Tenure

Freehold.

Location

Miles: 17 miles south-west of Bath, 17 miles south of Bristol
Roads: A39, A361, A37, M5, M4
Rail: Castle Cary Railway Station
Air: Bristol Airport

Situation

Tenure

Freehold.

Description

The property, an attractive Grade II listed 3 storey building, comprises a ground floor shop together with two one bedroom flats on the upper two floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property, an attractive Grade II listed 3 storey building, comprises a ground floor shop together with two one bedroom flats on the upper two floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground	Retail	75.81	(816)	INDIVIDUALS t/a Fig Tree Deli	5 years from 10/08/2023 (1) (2)	£16,000	3rd Anniversary of the term (1)
First	One bed flat	57.00	(613)	INDIVIDUAL	12 month AST from 16/09/2023	£7,800 (3)
Second	One bed flat	63.00	(678)	INDIVIDUAL	12 month AST from 28/11/2023	£7,800 (3)
Total Approximate Floor Area		195.81	(2,107)			£31,600

(1) The lease provides for a fixed rental increase to £17,500 p.a.x. on the 10/08/2026. The lease provides for a tenant only option to determine the lease on 09/10/2026 upon serving 9 months written notice.
(2) A rent deposit of £4,000 is held by the Seller.
(3) The AST rents have been annualised.

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.