***MIXED USE INVESTMENT*** Mixed use investment comprising a ground floor retail unit with first floor office above located on Old Church Road, Clevedon. The property is fully let out producing £11,008pa. Offered for sale Freehold subject to the occupational leases of the ground and first floor.
Fully let mixed use investment comprising a ground floor shop with office above. We consider the passing rents to be below market value and offer potential to increase at the next review.
The property is situated in a prime position on Old Church Road, Clevedon within a mixed parade of shops.
Understood to be Freehold.
LEASE DETAILS -
Ground Floor - Let at £7,000pa to a nail bar business on an Internal Repairing and Insuring basis. We understand the current lease has expired but that the tenant would like to sign up to a new 5 year term with 3 year tenant break option and rent review.
First Floor - Let at £4,008pa to a solicitors until November 2022 on an effectively Full Repairing basis. The tenant has a rolling break option subject to 2 month's written notice.
GROUND FLOOR -
Shop with rear storage, office, kitchenette and toilet measuring approximately 622 sqft.
FIRST FLOOR -
Offices with toilet measuring approximately 445 sqft.
BUSINESS RATES -
GF rateable value - £4,800.
FF ratable value - £2,175.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied on.
ENERGY PERFORMANCE CERTIFICATE -
Ground floor rating: TBC.
First floor rating: C (expires Nov 2021).
By appointment with Maggs & Allen.
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.
Please note the vendor is a connected person to an employee of Maggs & Allen.
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.