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City centre retail investment
Let to 2 separate local tenants
Total income £21,350 pa
Adj. To Home Bargains and Coopland’s
Tenants Nil business rates qualifying
Attractive Gross Yield 9.175%
Location Blandford Street is a pedestrianised City Centre retailing location linking Waterloo Place with Crowtree Road and Park Lane. A number of national traders are represented nearby including Home Bargains, Heron Foods, Betfred and Yorkshire Bank.. The location of the property is shown on the attached Goad Plan.
Description The property is let to 2 separate tenants comprising ground floor sales shop with garage and first floor rear office. There is also a self-contained hair dressing salon located on the first floor
Tenure The property is fully occupied let to 2 separate tenants on an Fri basis with service charge provisions and is to be sold subject to the following tenancies: -
Barber and Whale Limited Comprising ground floor shop, first floor rear office and lock up garage. Let to Barber & Whale Limited for a term of 5 years from 6th March 2018 at an annual rental of £12,000. The lease contains a tenant option to break at the 3rd anniversary upon serving 6 months’ notice however the parties have agreed to remove the break and therefore the rent is secured until March 2023.
First Floor Salon Let to Michael Jonathan Pickup t/a jp Hair for a term of 6 years from 1st September 2018 at an annual rental of £6,350. The tenant has been I occupation since 2012.
Asking Price Offers sought in the region of £200,000 (two hundred thousand pounds) reflecting an attractive Gross Yield of 10.68%.
Costs Each party will be responsible for their own Legal Fees incurred in the transaction.
Viewing Contact – Mario Jaconelli or Alexa Reavley
• • • VAT Figures quoted exclude VAT where chargeable.
Rateable Value The Valuation Office has confirmed the Rateable Values as follows:
Ground Floor Shop and Premises £11,500
First Floor Office and Premises £4,100
The Uniform Business Rate for the Rates Year 2021/2011 is 49.1p. If necessary, a written request should be made to the Local Authority for confirmation.
Money Laundering Regulations In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.
Disclaimer None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.
Ground Floor Energy Rating B First Floor Energy Rating F
For more information about this property, please contact Lofthouse and Partners Ltd, SR1 on +44 191 723 0021 * (local rate)
Contact Lofthouse and Partners Ltd about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Lofthouse and Partners Ltd, and do not constitute property particulars. Please contact Lofthouse and Partners Ltd for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.