Investment Consideration:
Gross Initial Yield: 7.74%
Rental Income: £12,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a Coral
Well located in heart of town centre
Nearby occupiers include Co-Op Food, Greggs, WHSmth, Superdrug, and Lloyds Bank, amongst others.
Property Description:
The property comprises ground floor shop t/a Coral, providing the following accommodation and dimensions:
Ground Floor: 85.60 sq m (921 sq ft)
Open Plan Retail, Office, Storage, WC
Tenancy:
The property is at present let to Ladbrokes Betting & Gaming Ltd for a term of 5 years from 29th September 2020 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants.
Tenure:
Long leasehold. Held on a 999 year lease from April 2022 at a ground rent of peppercorn.
Location:
Wellington, based in Somerset, is located some 40 miles south-west of Bristol and 30 miles north-east of Exeter. It is well located for easy access to Taunton, Tiverton, Exeter and Bristol via the A38 and M5 Motorway (J26). The town is in close proximity to Taunton or Tiverton Rail network. Taunton station main line 1hr 40 mins to London Paddington. The property is situated on the south side of Fore Street, close to its junction with South Street, in the centre of the town. Occupiers close by include Co-op, Greggs, WHSmith and Superdrug amongst other local traders.
