Retail premises for sale in King Street, Bridgwater TA6

Location

The property is prominently located along King Street, which leads onto Fore Street, the prime retail pitch within Bridgwater’s town centre.

Bridgwater’s resident population is approaching 45,000, boasting a thriving town centre and offering a pleasant working environment. The development of Hinkley Point C will boost the local economy and promote growth within the town and the surrounding areas.

Bridgwater has two motorway interchanges, namely Junction 23 at Dunball and the nearby J24 at Huntworth located approximately 2 miles to the south along the A38 Taunton Road.

Description

The property comprises a ground floor retail premises with frontage onto King Street.
Separate access from the frontage leads to two one bedroom flats arranged on the first and second floors, respectively.

Schedule

First Floor Flat - AST Holding over - £4,320 per annum
Second Floor Flat - AST Holding over - £4,980 per annum
6 King Street - Retail - 15 year lease from July 2013 until 2028 - £6,000 per annum
From July 2024 – £6,250 pa
From July 2025 – £6,500 pa
From July 2026 - £6,750 pa
(*Average rent of £6,450 pa)
Total Annual Rent £15,750 pa*

Business rates

Rateable Value is presently £6,000 per annum. Interested parties should make their own enquiries with the Local Authority to ascertain the rates payable. A change in occupation may trigger an adjustment in the rating assessment.

Council tax

Both flats have a Council tax Band A with the annual liability of £1,414.06 per flat.

EPC

An energy performance certificate has been commissioned for the ground floor retail premises and will be available upon request. First Floor flat is D64 and Second Floor flat is E53. Expiry 9/12/2030.

Guide price

£195,000 for the freehold interest.

Legal costs

Each party will be responsible for their own legal costs incurred.

VAT

Payable at the applicable rate.

Contact

Tony Mc Donnell mrics