Acquired
Weston-Super-Mare – Retail Shop
17 Post Office Road, Weston-Super-Mare, Somerset BS23 1ABFreehold Retail Investment
Tenure
Freehold
Lease Term
10 Year
Years Left on Lease
7y 2m
Area
1,500 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop with ancillary accommodation at first and second floor.
- Total area size of 140 sq m (1,500 sq ft)
- Entire property Let to an Individual trading as a nail bar on a 10 year lease from 1st March 2022, no breaks. Rent review every 5th year linked to RPI.
- Nearby occupiers include NatWest and Halifax (both adjacent), Timpson, Greggs, The Works, B&M, Poundland, Santander and EE amongst others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop with ancillary accommodation at first and second floor.
The property provides the following accommodation and dimensions:
Ground Floor: Shop 54 sq m (580 sq ft)
First Floor: Ancillary 48 sq m (510 sq ft)
Second Floor: Ancillary 38 sq m (410 sq ft)
Total area size: 140 sq m (1,500 sq ft)
Future Development Opportunity:
Planning Approved for conversion of first and second floor to a 1-bedroom flat.
The property would provide the following accommodation and dimensions:
Ground Floor: Retail Shop, Residential Entrance
First Floor: Open Plan Kitchen/Living Room, WC
Second Floor: Double Bedroom, Bathroom/WC
Total residential area size: 76.50 sq m (823 sq ft)
For more information please refer to North Somerset Council Planning Portal
REF: 21/P/2636/CM2A
The property provides the following accommodation and dimensions:
Ground Floor: Shop 54 sq m (580 sq ft)
First Floor: Ancillary 48 sq m (510 sq ft)
Second Floor: Ancillary 38 sq m (410 sq ft)
Total area size: 140 sq m (1,500 sq ft)
Future Development Opportunity:
Planning Approved for conversion of first and second floor to a 1-bedroom flat.
The property would provide the following accommodation and dimensions:
Ground Floor: Retail Shop, Residential Entrance
First Floor: Open Plan Kitchen/Living Room, WC
Second Floor: Double Bedroom, Bathroom/WC
Total residential area size: 76.50 sq m (823 sq ft)
For more information please refer to North Somerset Council Planning Portal
REF: 21/P/2636/CM2A
Tenancy Description
The shop is at present let to an Individual t/a a nail bar for a term of 10 years from 1st March 2022 at a current rent of £15,000 per annum. The lease contains full repairing and insuring covenants and the lease has no breaks. Rent review every 5th year linked to RPI. Rent deposit held of £3,750.
Tenancies & Accommodation
Location Description
Weston-super-Mare is a busy resort town located at the mouth of the River Severn approximately 21 miles south-west of Bristol. The town benefits from good road communications with Junction 21 of the M5 Motorway lying 5 miles to the east. Weston-super-Mare Rail Station provides regular services to Bristol (Temple Meads) with an average journey time of 28 minutes. The property is situated in a prominent position on the west side of High Street, opposite the Italian Gardens. Occupiers close by include Natwest and Halifax (both adjacent), Timpson, Greggs, The Works, B&M, Poundland, Santander and EE amongst others. An entrance to Sovereign Shopping Centre is adjacent to the property with occupiers including Holland & Barrett and Waterstones.
