***RETAIL INVESTMENT LET TO NATIONAL OCCUPIER*** Opportunity to purchase a retail investment let at £23,500 per annum to a national retailer on a 5 year lease, producing a gross yield of approximately 8.25%. The property is well-presented throughout and benefits from double glazing and LED lighting. Occupying a prime retailing pitch within close proximity to 'Boots', 'Superdrug' and 'TUI Holidays', the property is situated in Burnham-on-Sea providing good access to the M5 motorway.
A well-presented and recently refurbished retail investment benefitting from double glazing and LED lighting. The property occupies a corner plot providing a footprint of approximately 1078 sqft, the first floor provides an additional 670 sqft.
The first floor offers long term potential for conversion to residential although the property is fully let to a national occupier offering an excellent investment opportunity.
Burnham-on-Sea is situated just off J22 of the M5, between Bristol and Taunton, and 10 miles north of Bridgewater. Boasting 7 miles of sandy beaches, Burnham is a popular tourist destination for the South West.
The property occupies a prime retailing pitch on the High Street, in close proximity to 'Boots', 'Superdrug' and 'TUI Holidays'
Ground Floor: 1078 sqft (GIA)
First Floor: 670 sqft (GIA)
Toilet and Kitchen facilities are located on the first floor.
LEASE DETAILS -
The property is let to Sportswift Ltd (T/A Card Factory), on a 5 year Full Repairing and Insuring lease commencing February 2019 at a passing rent of £23,500 per annum.
Sportswift Limited reported revenue of £436.0M in the year to 31 January 2019.
A copy of the lease is available on request.
Understood to be Freehold.
Strictly by appointment with Maggs and Allen.
FLOOR PLAN -
A floor plan is provided for indicative purposes only and should not be relied upon.
We understand VAT is applicable to the property.
CONTROL OF ASBESTOS -
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.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.