Acquired
Wellington – Coral Betting Shop
8 Fore Street, Wellington, Somerset TA21 8AQVirtual Freehold Retail Investment
Tenure
Leasehold
Lease Term
5 Years
Years Left on Lease
10m
Area
921 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- 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.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
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
Ground Floor: 85.60 sq m (921 sq ft)
Open Plan Retail, Office, Storage, WC
Tenancy Description
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.
Tenure:
Long leasehold. Held on a 999 year lease from April 2022 at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
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.
