(GROSS YIELD 11.1 %)
6 Week completion
Located just off the main A4 Bath Road within this established retail parade amongst such multiples as Lloyds Pharmacy, William Hill, McColls, St Peters Hospice and a Post Office serving a mixed commercial and residential area just 1½ miles from Bristol City Centre.
Bristol is a major commercial and financial centre with fast links to the M4 and M5 and only 12 miles north-west of Bath and 40 miles west of Swindon.
Forming part of a mid terrace property comprising a Deep Ground Floor Shop. There is also a front forecourt.
Ground Floor Shop
Internal Width 13'0" widening to 16'3"
Shop Depth 46'8"
Built Depth 60'6"
VAT is NOT applicable to this Lot
Leasehold for a term of 999 years from 22nd October 2007 at a Peppercorn ground rent.
The property is let on a full repairing and insuring lease to Martin McColl Ltd (having over 1,300 branches) (T/O for Y/E 29/11/15 £489.336m, Pre-Tax Profit £22.229m and Shareholders' Funds £134.74m) for a term of 15 years from 22nd November 2007 at a rent of £12,800 per annum exclusive (see Notes 1 & 2).
Note 1: The current rent is £11,314 p.a. rising on 22nd November 2017 to a minimum of £12,800 p.a. or OMRV, whichever the greater. Therefore, the Vendor will top-up the rent shortfall to £12,800 p.a. on completion.
Note 2: The property has been sub-let to The Shiney Company as a Jewellery Craft Shop & evening Workshop classes. Visit: www.shineyrocks.co.uk