*GUIDE PRICE: £600,000 – £650,000*
Description:
We are pleased to be able to bring this mixed use Freehold Investment opportunity to the market, incorporating 5 No. Retail Units and 8 No. Residential Apartments in total.
Of the accommodation, 1 No. Retail Unit and 7 No. Residential Apartments have previously been sold off on long Leaseholds, with the Freehold interest being retained.
The property is a Grade II Listed property and is situated on West Quay, overlooking the town bridge and River Parrett, conveniently located in the town centre, benefiting from pedestrian frontage as well as a service yard, parking and courtyard area to the rear.
Accommodation:
For those units which remain part of the Freehold and not sold off on long Leaseholds, the areas are as follows:
Unit 1 – 779 sq. ft
Unit 3 – 545 sq. ft
Unit 4 – 1,569 sq. ft
Unit 5 – 1,417 sq. ft
Flat B – 914 sq. ft
Method of Sale:
This investment is being sold Freehold under Land Registry Title ST68554.
Offered for sale by way of a private treaty sale.
A full legal pack has been prepared and can be provided on request.
Investment:
The 4 No. Retail units and 1 No. Residential Apartment which remain part of the Freehold and income producing, currently generate a rental income of £72,200 per annum.
Unit 1 – let on a 15 year Lease as of 2023 with 3 yearly rent reviews.
Unit 3 – let on a 6 year Lease as of 2023.
Unit 4 – let on a 15 year Lease as of 2024 with 5 yearly rent reviews and rolling mutual break clause after 5 years.
Unit 5 – let on a 20 year Lease as of 2011 with 5 yearly rent reviews.
Flat B – let on a Tenancy Agreement, as of July 2025.
Ground Rents are payable by the 7 No. Residential Leaseholders.
