£185,000
Retail premises for saleSheap Street, Sherborne, Dorset DT9
Just added
About this property
Ground floor retail investment opportunity let to rspca. Approx 642 sq ft (59.57 sq m).
| Initial rental income of £17,000 per annum
| rspca the tenant of the premises since 2014
| Gross initial yield of 9.19%
| Vibrant High Street in affluent Market Town
Location
Sherborne is an affluent market town situated in north west Dorset. The Town Centre is situated just south of the A30 which links Yeovil to the West (6 miles) and Shaftesbury to the east (16 miles). Cheap Street is the Town’s principal shopping thoroughfare which lies to the east of its historic 8th century abbey and neighbouring Sherborne School. Here many national retails are represented including Boots the Chemist, Tresspass, Rohan, Fat Face, Caffe Nero, Reeve The Baker, Crew Clothing an Costa. There are also a good number of quality independent retailers in the location. On the eastern side of Cheap Street there is a pedestrian access link to a Waitrose supermarket. The Town’s mainline railway station lies to the south of the Town Centre.
Description
The premises comprise a ground floor shop forming part of a traditional terraced property fronting this busy high street with excellent footfall. The shop provides a retail area which is broadly regular in layout, with a storeroom, kitchen and WC being located at the rear of the shop. The shop is occupied by a charity and is fitted out with traditional fixtures and fittings including carpeting, slatboard to the shop’s walls and ceiling mounted spotlight track lighting.
Accommodation
Approximate Net Internal Areas
Shop internal frontage 4.59 m (15’1”)
Shop depth 12.39 m (40’9”)
m2 ft2
Retail sales 48.56 523
Rear store room 8.99 97
Kitchenette 2.02 22
WC - -
Total 59.57 642
Tenure
The property is held leasehold for a term of 999 years from 1 January 2000 at a peppercorn ground rent.
Occupational Lease
The property has been let on effectively full repairing and insuring terms to the rspca (West Dorset Branch - Charity No. 248616) since 7 July 2014. The lease was renewed for a further term of 10 years expiring 5th July 2033. The lease provides for a rolling tenant only break option exercisable at any time by the tenant serving the landlord not less than 6 months’ notice. The passing rent is £17,000 per annum and is subject to 3 yearly upward only rent reviews to Market Value (the July 2026 rent review has not as yet been implemented we are advised).
Price
Offers in excess of £185,000 reflecting a gross initial yield of 9.19% with potential to improve further pending the July 2026 review.
VAT
We are advised that the property has been elected for VAT. However, it is envisaged that the sale will be effected by way of a Transfer Of A Going Concern (togc) meaning that VAT will not be payable on the purchase albeit the VAT status of the property will remain unchanged.
Business Rates
Rateable Value: £16,250
Services
We understand that mains electricity, water and drainage are connected to the property.
Caution
Woolley & Wallis Commercial have not tested the services mentioned in these particulars.
Planning
Prospective tenants must satisfy themselves as to the permitted planning uses for the property.
Energy Performance Certificate
Energy Rating: 'B' (41)
Viewing
Strictly by through the sole selling agent Woolley & Wallis Commercial. Tel:
| Initial rental income of £17,000 per annum
| rspca the tenant of the premises since 2014
| Gross initial yield of 9.19%
| Vibrant High Street in affluent Market Town
Location
Sherborne is an affluent market town situated in north west Dorset. The Town Centre is situated just south of the A30 which links Yeovil to the West (6 miles) and Shaftesbury to the east (16 miles). Cheap Street is the Town’s principal shopping thoroughfare which lies to the east of its historic 8th century abbey and neighbouring Sherborne School. Here many national retails are represented including Boots the Chemist, Tresspass, Rohan, Fat Face, Caffe Nero, Reeve The Baker, Crew Clothing an Costa. There are also a good number of quality independent retailers in the location. On the eastern side of Cheap Street there is a pedestrian access link to a Waitrose supermarket. The Town’s mainline railway station lies to the south of the Town Centre.
Description
The premises comprise a ground floor shop forming part of a traditional terraced property fronting this busy high street with excellent footfall. The shop provides a retail area which is broadly regular in layout, with a storeroom, kitchen and WC being located at the rear of the shop. The shop is occupied by a charity and is fitted out with traditional fixtures and fittings including carpeting, slatboard to the shop’s walls and ceiling mounted spotlight track lighting.
Accommodation
Approximate Net Internal Areas
Shop internal frontage 4.59 m (15’1”)
Shop depth 12.39 m (40’9”)
m2 ft2
Retail sales 48.56 523
Rear store room 8.99 97
Kitchenette 2.02 22
WC - -
Total 59.57 642
Tenure
The property is held leasehold for a term of 999 years from 1 January 2000 at a peppercorn ground rent.
Occupational Lease
The property has been let on effectively full repairing and insuring terms to the rspca (West Dorset Branch - Charity No. 248616) since 7 July 2014. The lease was renewed for a further term of 10 years expiring 5th July 2033. The lease provides for a rolling tenant only break option exercisable at any time by the tenant serving the landlord not less than 6 months’ notice. The passing rent is £17,000 per annum and is subject to 3 yearly upward only rent reviews to Market Value (the July 2026 rent review has not as yet been implemented we are advised).
Price
Offers in excess of £185,000 reflecting a gross initial yield of 9.19% with potential to improve further pending the July 2026 review.
VAT
We are advised that the property has been elected for VAT. However, it is envisaged that the sale will be effected by way of a Transfer Of A Going Concern (togc) meaning that VAT will not be payable on the purchase albeit the VAT status of the property will remain unchanged.
Business Rates
Rateable Value: £16,250
Services
We understand that mains electricity, water and drainage are connected to the property.
Caution
Woolley & Wallis Commercial have not tested the services mentioned in these particulars.
Planning
Prospective tenants must satisfy themselves as to the permitted planning uses for the property.
Energy Performance Certificate
Energy Rating: 'B' (41)
Viewing
Strictly by through the sole selling agent Woolley & Wallis Commercial. Tel:
Mortgage calculator
Monthly repayment
£925 per month
Whole of market comparison
70+ lenders and 10,000+ products
How much could I borrow
In partnership with
The monthly repayments provided are estimates and should be used as a guide only. The actual amount you can borrow will depend on your personal financial situation and subject to a full application. For a more precise estimate, please use the Mojo mortgage calculator. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
.png){kind=logo}