A mixed use investment property located on the High Street in Thornbury. The ground floor is arranged as two shops, one let to Tui and the other to a local covenant, with an extensively refurbished and extended first floor flat.
The property is fully let producing a gross annual rent of £33,100pa and offers potential to increase at the next rent review.
DESCRIPTION -
A mixed use investment property located on the High Street in Thornbury. The ground floor is arranged as two shops, one let to Tui and the other to a local covenant, with a recently refurbished and extended first floor flat presented to a very high specification. The property is fully let producing a gross annual rent of £33,100pa and offers potential to increase at the next commercial rent review.
LOCATION -
The property is situated in a highly prominent and bustling position on Thornbury High Street, within a mixed parade of commercial units. Notable neighbouring occupiers include HSBC, Costa Coffee and the Tesoro Lounge.
ACCOMMODATION -
Please refer to the floorplan for approximate room measurements and internal layout.
TENURE -
We understand the property is to be offered for sale on a freehold basis, subject to the occupational leases outlined below.
LEASE DETAILS -
SHOP 1 -
The smaller shop is let to HS23 Limited on an effectively fully repairing and insuring basis, at a rent of £6,500pa and for a term of 10 year from 4th May 2022, subject to a rent review on the 4th May 2027.
SHOP 2 - TUI -
The shop is let to TUI UK Retail Limited on a 5 year term from 26th October 2023 at a passing rent of £11,000pa on an effectively fully repairing and insuring basis, with no break options nor reviews.
FLAT -
The flat is let at at £1,300pcm on an Assured Shorthold Tenancy basis from the 29th February 2024.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
ENERGY PERFORMANCE CERTIFICATE -
EPC ratings:
Shop A: C (expires November 2032)
Shop B: B (expires November 2032)
Flat: C (expires December 2023)
VIEWINGS -
By appointment.
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.
