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Lot 18

Freehold Commercial Investment – Gross Yield 13.3%
On Behalf of Charitable Trustees
6 Week Completion

Situation

Located on the western side of North Street within the town centre, near to the junction with Fore Street, and amongst such multiple retailers as Greggs, Moss Bros, Timpson, Merkur Slots, Scope, Mind, HSBC, Ask Italian and others.
Taunton is the county town of Somerset which lies some 12 miles south-west of Bridgwater and 49 miles south-west of Bristol and benefits from good road links via the M5 (Junction 25).

Property

A mid terraced building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on the first floor and hatch access to the second floor.

VAT is NOT applicable to this Lot

FREEHOLD

Accommodation¹

Ground Floor Shop
Gross Frontage 16'5"
Built Depth 77'0"
Area Approx. 1,037 sq ft
First Floor Ancillary
Area Approx. 216 sq ft
Second Floor
Hatch access - Not inspected

Total Area Approx. 1,253 sq ft plus Second Floor

¹Not inspected by Barnett Ross. Areas taken from VOA.

Tenancy

The entire property is let on a full repairing and insuring lease to J. O. Ali as a Convenience Store for a term of 5 years from 23rd April 2021 at a current rent of £20,000 per annum exclusive.

Note : There is a £10,000 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

11 North Street, Taunton, Somerset TA1 1LH