The property comprises an attractive retail unit arranged on the ground floor with ancillary office and storage accommodation on the first floor. There is an access corridor at the rear of the property over which the owner ...
This industrial unit for sale is located in Yeovil
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| National rail | 1.3m | Yeovil Pen Mill | |
| Nearest airport | 49.5m | Bristol |
FREEHOLD INVESTMENT OPPORTUNITY 12 MIDDLE STREET Yeovil BA20 1LY INVESTMENT SUMMARY x Yeovil is a historic and prosperous market town that benefits from lack of nearby competing centres x Situated on a prime trading position on pedestrianised Middle Street x Attractive well configured corner unit with dual frontage x Entirely let to the excellent covenant of Signet Trading Limited until September 2028, with a tenant option to break in September 2023 x Current rent £28,000 per annum Offers are sought in excess of £380,000 Reflecting a net initial yield of 7.08% Assuming a normal purchaser’s costs of 4.04 % 12 Middle Street, Yeovil BA20 1LY LOCATION Yeovil is a historic and prosperous market town located in south Somerset. It is 130 miles west of London, 40 miles south of Bristol and 28 miles east of Taunton. The distance to competing retail centres increases Yeovil’s strength as a retail centre. Yeovil benefits from very good road connectivity, located at the junction of the A30 and A37 with the A303 dual carriageway located just 4 miles to the south of the town. The M5 motorway is 23 miles to the west. Yeovil has two railway stations, Yeovil Junction provides direct access to London Waterloo with a journey time of 2 hours 20 minutes and Yeovil Pen Mill is on the north/south line and provides direct access to Bristol Temple Meads with a journey time of approximately 1 hour 30 minutes. The rapidly expanding Bristol Airport is located 42 miles to the north of Yeovil and this provides a large number of European and worldwide flights. 12 Middle Street, Yeovil BA20 1LY SITUATION Prime retailing in Yeovil is focused on the pedestrianised section of Middle Street and the Quedam Shopping Centre, which links into Middle Street. Major retailers include: Topshop, M&S, H&M, New Look, Primark, WHSmith and Boots. Middle Street is Yeovil’s principal pedestrianised retail thoroughfare. The subject property is situated on the edge of the pedestrianised section of Middle Street at its junction with Union Street, directly opposite WHSmith and diagonally opposite Marks & Spencer. A public car park is located immediately to the rear of the subject property accessed via Peter Street and, therefore, the property benefits from a strong footfall. DESCRIPTION The property comprises an attractive retail unit arranged on the ground floor with ancillary office and storage accommodation on the first floor. There is an access corridor at the rear of the property over which the owner and occupier of neighbouring 16 Middle Street will retain a right of way. ACCOMMODATION The property provides the following accommodation: Internal width 6.10 sq m 66 sq ft Zone A 36.09 sq m 388 sq ft Zone B 35.51 sq m 360 sq ft Zone C 4.30 sq m 46 sq ft Total ground floor 77.87 sq m 838 sq ft Total in terms of Zone A 53.42 sq m 575 sq ft First floor stores 57.19 sq m 820 sq ft Total 149.08 sq m 1,605 sq ft Ground floor 12 Middle Street, Yeovil BA20 1LY TENURE The property is held freehold. TENANCY The property is entirely let to Singet Trading Ltd on a full repairing and insuring lease from 30th of June 2003. The tenant have recently renewed for a term of 10 years, expiring 28th September 2028. The lease benefits from 5 yearly upward only rent reviews, the next being 29th of September 2023. There is a tenant option to break on 28 September 2023. The passing rent is £28,000 per annum. 12 Middle Street, Yeovil BA20 1LY COVENANT The Signet Group is reputedly the world’s largest speciality retail jeweller in the UK, UK and Canada. The company operates, 3,500 stores including Kay Jewellers, Zales, H Samuel and Ernest Jones. In the last three years Signet Trading Ltd have reported the following figures in their accounts: 28/01/2017 £ 30/01/2016 £ 31/01/2015 £ Turnover 489,366,000 485,350,000 458,132,000 Pre-tax Profit 31,096,000 35,910,000 26,810,000 Net Worth 241,706,000 289,797,000 264,491,000 12 Middle Street, Yeovil BA20 1LY EPC VAT The property has an EPC rating of E. A copy of the EPC is available on request. The property is registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC.) 12 Middle Street, Yeovil BA20 1LY PROPOSAL We are seeking offers in excess of £380,000 (three hundred and eighty thousand pounds), subject to contract and exclusive of VAT, reflecting a net initial yield of 7.08% assuming normal purchasers costs of 4.04% CONTACT For further information or to arrange an inspection of this property, please contact the sole agents: T: E: Gemma-Jane Ogden 0117 946 4529 gemma-jane.ogden@htc.uk.com Or T: E: Gruffudd Hobday 0117 946 4569 gruffudd.hobday@htc.uk.com October 2018 Hartnell Taylor Cook LLP for themselves and for the vendor or lessor of this property, whose agent they are, give notice that: x x x x x x These particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part or whole of an offer or contract; All descriptions, dimensions, photographs, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but intending purchasers or lessees should not rely on them as statements or representations of fact and must satisfy themselves as to their correctness; No person in the employment of Hartnell Taylor Cook LLP has any authority to make or give any representation or warranty whatsoever in relation to this property or these particulars nor enter into any contract on behalf of the vendor or lessor; Unless otherwise stated, all prices, rents and other charges are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction; All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have not been tested and we give no warranty as to their condition or operation; No responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties that have been sold or withdrawn. 12 Middle Street, Yeovil BA20 1LY 12 Middle Street, Yeovil BA20 1LY
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