Acquired
Trowbridge – Mercy in Action Charity Shop
5 Manvers Street, Trowbridge, Wiltshire BA14 8EHVirtual Freehold Shop Investment
Tenure
Leasehold
Lease Term
11 Years
Years Left on Lease
2y 4m
Area
1,495 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Town centre location. Directly opposite of the town centre main bus stop
- Let to Mercy in Action (charity operating from over 20 shops)
- Recently extended lease, now expiring 2027, No Breaks
- Tenant recently removed their 2021 break and extended the lease by 1 year in return for rental relief during Covid19
- Nearby occupiers include Lloyds Bank, NatWest, Sainsbury’s and Costa as well as being within easy walking distance of the mainline railway station
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises a double fronted ground floor retail unit. The net frontage on to Manvers Street is approximately 28’2” (8.6m) with two large windows and an overall retail depth of about 53’5” (16.3m) giving a net sales area of about 1,430 sq ft (132.9 sq m) plus a kitchen area, WC and store.
The property provides the following accommodation and dimensions:
Ground Floor Retail: 138.85 sq m (1,495 sq ft)
Tenure:
Leasehold. 999 years from 1st January 2015 at peppercorn.
The property provides the following accommodation and dimensions:
Ground Floor Retail: 138.85 sq m (1,495 sq ft)
Tenure:
Leasehold. 999 years from 1st January 2015 at peppercorn.
Tenancy Description
The shop is at present let to Mercy in Action for a term of 11 years from 1st April 2016 at a current rent of £13,000 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent review in 2021 to a higher of RPI or OMV. Minimum uplift based on RPI today would be £14,531.40. The Vendor will top up the rent so that the buyer receives the RPI uplift from completion. The tenant recently removed their 2021 break and extended the lease by 1 year in return for rental relief during Covid-19 lockdown.
Tenancies & Accommodation
Location Description
These town centre retail premises are located on the ground floor of an imposing building close to Lloyds Bank, NatWest and Costa as well as being within easy walking distance of the mainline railway station. Trowbridge has a wide range of shopping and leisure facilities and is within easy travelling distance of Bath, Bradford on Avon and Frome. The premises form part of a terrace of retail units on a busy through fare which links Sainsbury’s supermarket to the town centre.
