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Retail premises for sale
2,699 sq. ft*
Not available Council tax band:
Freehold Investment Opportunity
Grade II Listed Investment Property
Gross Annual Rental Income of £34,750.
Location – This mixed-use Grade II listed property occupies a prime location within Wellington town centre adjoining many national retailers including wh Smith, Superdrug, Greggs, Co-op, with a Waitrose supermarket nearby.
There is plentiful public car parking in the town centre as well as private parking to the rear of the property.
Wellington is an attractive Somerset town located within a short journey of J26 of the M5 motorway. The town has a growing population, currently above 14,500, boasting a thriving business community and acting as a dormitory town for Taunton and Exeter City.
Description – The property comprises a ground floor and basement retail premises, let under a commercial lease, generating an annual rent of £14,950. There is a generously proportioned three bedroom Maisonette arranged over the first and second floors, generating £9,300 per annum. There is a modern contemporary one bedroom Flat generating £7,500 per annum. Within the ground floor and separately accessed form the rear there is a ground floor office, presently occupied by the vendor, with a rental valuation of £3,000 per annum.
A secure rear yard provides off road parking and a detached garage. A previous application for “Demolition of single garage and erection of two bedroom dwelling” (Ref: 43/14/0142) was granted conditional approval on 15th July 2015. This has now lapsed.
Services – All main services are connected. Mains gas is also connected.
Ground Floor Shop 725 sq ft 67.36 sq m Basement 320 sq ft 29.73 sq m Total Accommodation 1,045 sq ft 97.09 sq m Maisonette: Total Accommodation 1,176 sq ft 109.45 sq m Flat: Total Accommodation 328 sq ft 30.48 sq m Office 150 sq ft 14.05 sq m Total Overall Accommodation: 2,699 sq ft 251.07 sq m The ground floor also provides a communal modern kitchenette area and WC facility for use by the ground floor shop tenant’s and the ground floor office.
Business rates - The 2017 rateable value for the ground floor shop is £11,750 per annum.
EPC’s - The two residential dwellings have an EPC rating of C70 (Maisonette) and D68 (Flat).
Guide price – Offers are invited in excess of £500,000 for the freehold interest. Copies of the Lease and AST Agreements will be made available to interested parties.
For more information about this property, please contact Cluff Commercial, TA6 on +44 1278 285890 * (local rate)
Contact Cluff Commercial about this property
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