High Street Retail Property for sale

St. Mary Street, Bridgwater TA6


£395,000
S.O.A.

Features

  • - Freehold from £395,000.
  • - Gross internal floor area of 2,403 sq ft .
  • - Potential income of £29,900 per annum.
  • - Shop is currently used as a hair salon and piercing studio, suitable for various uses under Class E Use to include a cafe, restaurant, gym, shop or clinic.
  • - Town centre shop with four flats above.
  • Key Facts

Description

- Town centre shop with four flats above.
- Shop is currently used as a hair salon and piercing studio, suitable for various uses under Class E Use to include a cafe, restaurant, gym, shop or clinic.
- Potential income of £29,900 per annum.
- Gross internal floor area of 2,403 sq ft .
- Freehold from £395,000.

Location
The property is located on St Mary Street, opposite St Mary's Church, and is only a short walk from Bridgwater's main shopping area Cornhill and the High Street.

Bridgwater, with a population of 41,000, is a market town located 9 miles north east of Taunton and 40 miles south of Bristol. The town benefits from access to both Junctions 23 and 24 of the M5 motorway and has attracted substantial residential and commercial development in recent years, with Hinkley Point C creating further opportunities in both sectors.

Description
A large double fronted building constructed of brick elevations with UPVC double glazed windows under a Roman tiled roof. The property has recently undergone works to the roof, which are guaranteed, with a new boiler having been fitted in the shop.

The building comprises a well-proportioned retail unit on the ground floor and four 1 bedroom flats with a communal laundry room, spread over the first and second floors.

The shop contains a sales area, which is currently split into two zones, a treatment room to the rear and kitchen. The shop benefits from a suspended ceiling with inset spotlights, gas central heating and a large timber framed shop front.

The flats are accessed to the rear of the building up an external staircase. There are two flats on each floor with the laundry room located on the first floor. Each flat consists of a living room, kitchen and a shower room.

Accommodation
The approximate net internal areas of the shop are as follows:-

Sales Areas 68.96 sq m 743 sq ft
Treatment Rm 17.61 sq m 190 sq ft
Kitchen 3.23 sq m 35 sq ft
Total 89.80 sq m 968 sq ft

The approximate gross internal areas of the flats are as follows:-

Flat 1 22.34 sq m 240 sq ft
Flat 2 32.82 sq m 353 sq ft
Flat 3 29.87 sq m 321 sq ft
Flat 4 30.74 sq m 331 sq ft
Laundry Rm 17.61 sq m 190 sq ft

Total 133.38 sq m 1,435 sq ft

Tenancies
All of the apartments are currently let via Assured Shorthold Tenancies at the below rents:-

Flat 1 (1 bed) £400 pcm (£4,800 pa)
Commenced 23/10/2020

Flat 2 (1 bed) £450 pcm (£5,400 pa)
Commenced 01/07/2021

Flat 3 (1 bed) £450 pcm (£5,400 pa)
Commenced 03/03/2021

Flat 7 (1 bed) £425 pcm (£5,100 pa)
Commenced 16/06/2021

Total £1,725 pcm (£20,700 pa)

The shop has a rental value of £9,200 per annum.

Utilities
The building is connected to mains electricity, gas, drainage and water. Each flat has its own electric key meter.

Rates and Council Tax
The shop has a rateable value of £7,000 per annum.

Each apartment is within Council Tax Band A', the current tax payable of 2020/2021 being £1,285.

Energy Performance Certificate
The shop has a commercial EPC rating of C(70). Full copies of each apartment's EPC is available upon request.

Investment
The whole property is available freehold at a guide price of £395,000.

This price reflects a net initial yield of 7.27% net of purchasers' costs at 4.14% when the building is fully let assuming a total income of £29,900 per annum.
VAT

We are advised that the property is not registered for VAT.

Viewing
Strictly by appointment by sole agents:
Joseph Hughes
Greenslade Taylor Hunt
9 Hammet Street, Taunton,
Somerset, TA1 1RZ
T: E:

Categories

High Street Retail Property
Property reference
CP_8A287E2040_121