Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- Investment opportunity
- Existing Business not affected
- Good rental income, circa £85,000 p.a.
- Scope for higher rents
- Shop (689ft2 / 64m2)
- 12 Flats and Bedsits
- One bedroom cottage
Rooms
Lot 1: Guide Price £500,000 (Hatched Blue
Ground floor shop and four residential flats. Pedestrian access rights reserved for Lot 2.
Lot 2: Guide Price £750,000 (Edged Red)
5 studio flats, 3 bedsits, courtyard, one-bedroom cottage and garden.
Description
An opportunity to purchase a mixed-use investment property, occupying a prominent position within the heart of Wotton-under-Edge. The property is marketed subject to an existing lease for the shop and Assured Shorthold Tenancies, for the flats and cottage. The existing shop business is not affected by the freehold sale.
The shop extends to approximately 689ft2, comprising retail area, kitchen, storage, and cloakroom, with direct pedestrian access. There is also a cellar beneath the shop which is owned by the freeholders but does not form part of the existing lease.
There are nine flats and three bedsits in good tenantable and decorative order, being well-maintained by the current Landlords.
The property is connected to mains electricity, water and drainage.
Situation
The property is situated on the main high street of the historic market town of Wotton-under-Edge. The M5 Junction 14 is approximately 5 miles away while the M4 is approximately 11 miles distant, allowing for good access to Bristol, Gloucester, Cheltenham and South Wales. Locally, Wotton-under-Edge boasts a wide range of independent and national shops.
Outside
The property has pedestrian access direct from Long Street with separate entrances to Lot 1 and Lot 2, and the cottage.
Lease
An existing 5-year commercial lease on the ground floor shop unit commenced in January 2024. The lease is internal repairing with the Landlord responsible for structure. Further details on request.
The flats and bedsits are let under the terms of Assured Shorthold Tenancy agreements.
The total combined annual income is in the region of £85,000 p.a. with potential to increase the income.
Business Rates
Current Rateable Value – £12,000
Property information from this agent
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