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Lot 5 Click here for addendum

Freehold Commercial Investment – Gross Yield 18%
6 Week Completion

Situation

Located near to the junction with Frederick Place in a prominent position on the town's pedestrianised retail thoroughfare, adjacent to Clarks and amongst other multiple retailers as Marks & Spencer, Peacocks, Costa, WHSmith, Poundland, Greggs, Boots and many others.
Yeovil is a market town situated some 12 miles north of Dorchester and 40 miles south of Bristol with good road links to the M5 (Junction 25) and A303 which links to the M3 (Junction 8).

Property

A mid terraced building comprising a Ground Floor Shop with two internal staircases to Ancillary Accommodation on the first and second floors.

Accommodation

Ground Floor Shop
Gross Frontage 19'7"
Internal Width 17'2"
narrowing at rear to 15'11"
Shop Depth 74'0"
Built Depth 87'1"
Sales/Store Area Approx. 1,334 sq ft
First Floor Ancillary
Area Approx. 654 sq ft
2 WCs
Second Floor Ancillary
Area Approx. 323 sq ft

Total Area Approx. 2,311 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a Schedule of Condition) to Esquire Retail Limited t/a Clinton Cards (having 225 branches) for a term of 3 years from 25th April 2020 at a current rent of £18,000 per annum exclusive.

Note 1: The tenants did not operate their 2022 break clause and have offered to take a new 5 year lease from April 2023 with 3 months rent free and a break after 3 years at a rent of £4,000 p.a.
The Vendor has not accepted this proposal.

Note 2: The Unit has traded as Clinton Cards since at least 2010.

*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 £1,000 plus 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.

25 Middle Street, Yeovil, Somerset BA20 1LF