High street investment in a thriving market town 7% return approx
FOR SALE BY PUBLIC AUCTION ON FRIDAY 21 SEPTEMBER 2018 at 2.00pm at THE DIGBY HALL, SHERBORNE, DT9 3AB.
A Grade II listed building occupying a corner position in the High Street close to WH Smiths, Edinburgh Woollen Mill, Superdrug and Santander Bank.
The property comprises an A2 office/shop on the ground floor.
Accommodation (net internal areas)
Shop frontage 5.2m
Shop depth 5m average
Front sales area 27.2 sqm
Rear office 20.6 sqm
Kitchen 13.2 sqm
Basement storage 12.5 sqm
Total 73.5 sqm
Current rent £15,500 pa
The upper parts, 3 flats, have been sold on FRI leases on terms of 125 years from 1 January 2007 with each paying a ground rent of £50 per annum, doubling every 25 years. Each tenant contributes a quarter share towards the maintenance and repair/decoration of the main structure and exterior.
• The tenant is responsible for the internal repairs and decoration including the shop front and windows.
• The tenant pays a quarter share for all external repairs and decorations to the main structure.
• The landlord arranges buildings insurance and the tenant pays a quarter share
Car parking- One space to the rear.