***COMMERCIAL INVESTMENT FOR SALE***
Ground floor retail unit of approximately 440 sq ft situated in a busy trading position on Regent Street, Kingswood. Offered for sale on the basis of a new Long Leasehold, the shop would make an ideal SSAS or SIPP purchase, suiting investors. A new 15 year lease has been agreed at a passing rent of £10,000pa providing a gross yield of 8.3%.
DESCRIPTION -
A ground floor retail unit of approximately 440 sq ft arranged as open plan layout. The shop would suit a variety of uses within the E use class subject to consents. Please note the vendor is currently arranging the separation of the shop from the rear part of the property, see proposed floor plan for approximate layout and dimensions. A new 15 year lease has been agreed to a barbers at a passing rent of £10,000pa.
LOCATION -
The property is situated within a mixed parade of shops on Regent Street, Kingswood benefitting from high levels of footfall and passing traffic throughout the day.
TENURE -
The property is offered for sale on a new Long Leasehold basis with vacant possession.
LEASE DETAILS -
The shop is to be sold let to a barbers on the following terms:
£10,000pa.
New 15 year lease.
Tenant break options, end of years 3 & 7.
Upwards only to open market value rent reviews, end of years 3 & 7.
3 months deposit.
2 months rent free.
Effectively Full Repairing and Insuring lease.
PROPOSED FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
LEGAL COSTS -
Each party to incur their own respective legal fees.
ENERGY PERFORMANCE CERTIFICATE -
EPC rating: D (expires July 2031).
BUSINESS RATES -
The rateable value currently covers the entire property and the shop will therefore need to be re-rated in due course.
VIEWING -
By appointment with Maggs & Allen.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
CONTROL OF ASBESTOS REGULATIONS -
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for asbestos and therefore recommend all interested parties to make their own enquiries.
