Guide price
£400,000
Retail premises for saleMarket Place, Warminster, Wiltshire BA12
About this property
** commercial / residential investment **
Fully let mixed use town centre investment opportunity comprising shop and two modernised self-contained flats on the upper floors.
| Shop let on a 10 year lease from 2023
| Combined rental income of £29,700 pa
| Gross initial yield of 7.42% based on guide price
Location
The property is situated on the northern side of Market Place close to the Bath Arms Hotel (Weatherspoons) and within a short walk of Three Horseshoes Walk shopping centre and the Central Car Park. Nearby occupiers include Coffee No. 1, Lloyds Bank, Boots The Chemist, M&Co, Costa, Reeve The Baker, Sports Direct and Vision Express. The Town’s mainline railway station is situated close by with regular services to Bristol, Cardiff, Southampton and Portsmouth. Warminster is situated at the junction of the A36 and A350 which bypass the town to the south and east. The A303 lies approximately 7 miles to the south and Salisbury is situated around 21 miles to the south east.
Description
The premises comprise a mid-terraced, Grade II Listed property incorporating a ground floor shop with ancillary areas including a basement and rear yard area currently let as a barber shop together with two spacious self-contained 2-bed flats let on ASTs on the upper floors. The flats, which have gas fired central heating, incorporate some attractive period features including beamed sitting rooms and Georgian windows and have undergone modernisation in recent years.
Accommodation
Shop
Approximate Net Internal Areas
m2 ft2
Shop frontage 6.3 m (20’9”)
Shop depth 11.14 m (36’6”)
Retail sales 64.3 692
Kitchenette 4.4 47
Rear Storeroom 28.1 303
Basement storage 23.5 253
Total 120.3 1,295
Tenure
Freehold subject to the following leases/ tenancies:
Shop
Let on an effectively full repairing and insuring lease for a term of 10 years from 16 February 2023 with a tenant only break option on the 5th anniversary of the commencement of the term. The passing rent is £15,000 pa which is subject to 3 yearly upward only rent reviews to Market Value (the next review being in February ‘26). The landlord holds a rent deposit equivalent to 3 months’ rent.
First Floor Flat (approx 1,022 sq ft)
Let on an AST for a term commencing 18 April 2023 at a rent of £725 pcm (£8,700 pa).
Second Floor Flat (approx 656 sq ft)
Let on an AST for a term commencing 28 July 2007 at a rent of £500 pcm (£6,000 pa).
Price
Offers in the region of £400,000 reflecting a gross initial yield of 7.42% based on the combined current income of £29,700 per annum.
We understand that VAT will not be chargeable.
Services
The shop and flats are all separately serviced. The flats have gas central heating.
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 Certificates
Shop: ‘C’ (64)
First Floor Flat: ‘D’ (67)
Second Floor Flat: ‘D’ (59)
Viewing
Strictly by appointment only through the joint sole agents Woolley & Wallis Commercial and Whites Residential, Salisbury ?).
Fully let mixed use town centre investment opportunity comprising shop and two modernised self-contained flats on the upper floors.
| Shop let on a 10 year lease from 2023
| Combined rental income of £29,700 pa
| Gross initial yield of 7.42% based on guide price
Location
The property is situated on the northern side of Market Place close to the Bath Arms Hotel (Weatherspoons) and within a short walk of Three Horseshoes Walk shopping centre and the Central Car Park. Nearby occupiers include Coffee No. 1, Lloyds Bank, Boots The Chemist, M&Co, Costa, Reeve The Baker, Sports Direct and Vision Express. The Town’s mainline railway station is situated close by with regular services to Bristol, Cardiff, Southampton and Portsmouth. Warminster is situated at the junction of the A36 and A350 which bypass the town to the south and east. The A303 lies approximately 7 miles to the south and Salisbury is situated around 21 miles to the south east.
Description
The premises comprise a mid-terraced, Grade II Listed property incorporating a ground floor shop with ancillary areas including a basement and rear yard area currently let as a barber shop together with two spacious self-contained 2-bed flats let on ASTs on the upper floors. The flats, which have gas fired central heating, incorporate some attractive period features including beamed sitting rooms and Georgian windows and have undergone modernisation in recent years.
Accommodation
Shop
Approximate Net Internal Areas
m2 ft2
Shop frontage 6.3 m (20’9”)
Shop depth 11.14 m (36’6”)
Retail sales 64.3 692
Kitchenette 4.4 47
Rear Storeroom 28.1 303
Basement storage 23.5 253
Total 120.3 1,295
Tenure
Freehold subject to the following leases/ tenancies:
Shop
Let on an effectively full repairing and insuring lease for a term of 10 years from 16 February 2023 with a tenant only break option on the 5th anniversary of the commencement of the term. The passing rent is £15,000 pa which is subject to 3 yearly upward only rent reviews to Market Value (the next review being in February ‘26). The landlord holds a rent deposit equivalent to 3 months’ rent.
First Floor Flat (approx 1,022 sq ft)
Let on an AST for a term commencing 18 April 2023 at a rent of £725 pcm (£8,700 pa).
Second Floor Flat (approx 656 sq ft)
Let on an AST for a term commencing 28 July 2007 at a rent of £500 pcm (£6,000 pa).
Price
Offers in the region of £400,000 reflecting a gross initial yield of 7.42% based on the combined current income of £29,700 per annum.
We understand that VAT will not be chargeable.
Services
The shop and flats are all separately serviced. The flats have gas central heating.
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 Certificates
Shop: ‘C’ (64)
First Floor Flat: ‘D’ (67)
Second Floor Flat: ‘D’ (59)
Viewing
Strictly by appointment only through the joint sole agents Woolley & Wallis Commercial and Whites Residential, Salisbury ?).
.png){kind=logo}