Retail premises for sale in Court Street, Bridgwater TA6

Investment Consideration:
Gross Initial Yield: 9.04%
Rental Income: £33,900 p.a.
VAT is not applicable to this property
Comprises 5 x Retail Shops and 1 x 1-Bed Flat
Total area size of 186.86 sq m (2,109 sq ft)
Two of the retail tenants in occupation for 10+ years
Asset management opportunity. Two of the shops under rented
Situated in the heart of the town centre, with occupiers close by including Santander (adjacent), Boots, EE, Lloyds Bank and more.

Property Description:
The property is arranged on ground and one upper floor to provide five ground floor shop units with ancillary/storage accommodation on the first floor above No. 1,2 and 3 Court Street and a self-contained flat above No. 5B and 5C Court Street which is accessed from the front.

Shop No.1: 35.50 sq m (482 sq ft)
Ground floor shop with ancillary at first floor
Shop No.2: 34.80 sq m (374 sq ft)
Ground floor shop with ancillary at first floor
Shop No.3: 30.10 sq m (323 sq ft)
Ground floor shop with ancillary at first floor
Shop No.5B: 19.16 sq m (206 sq ft)
Ground floor shop
Shop No.5C: 24.30 sq m (262 sq ft)
Ground floor shop
Flat No.5A: 43.00 sq m (462 sq ft)
First floor 1-Bedroom flat

Total Commercial Area: 143.86 sq m (1,647 sq ft)
Total Residential Area: 43 sq m (462 sq ft)

Tenancy:
Shop No. 1 is at present let to an Individual for a term of 3 years from 7th October 2023 at a current rent of £7,200 p.a. And the lease contains full repairing and insuring covenants. Deposit held of £1,200.
Shop No. 2 is at present let to an Individual for a term of 5 Years from 1st March 2024 at a current rent of £7,200 p.a. And the lease contains full repairing and insuring covenants. Deposit held of £1,000.
Shop No. 3 is at present let to an Individual for a term of 5 Years from 1st August 2024 at a current rent of £5,000 p.a. And the lease contains full repairing and insuring covenants. Rent review every 3rd year open market upward only. Tenant option to determine in the 3rd year with min 3 months notice Deposit held of £800.
Shop No. 5B is at present let to an Individual for a term of 3 years from 23rd October 2013 (holding over) at a current rent of £3,750 p.a. And the lease contains full repairing and insuring covenants.
Shop No. 5C is at present let to an Individual t/a Sandwich Shop for a term of 5 years from 1st October 2007 (holding over) at a current rent of £4,750 per annum and the lease contains full repairing and insuring covenants.
Flat No. 5A is at present let on AST to an Individual for a term of 24 months from 1st June 2023 at a current rent of £6,000 p.a. Deposit held of £350. Tenant in occupation since 2014.

Location:
The market town of Bridgwater, which has a population of 36,000, is the administrative centre of Sedgemoor district and is located 9 miles north-east of Taunton and 40 miles south of Bristol. The town benefits from its proximity to the M5 Motorway, which is located immediately to the east of the town (Junctions 23 and 24). The property is situated on the west side of Court Street, just off the pedestrianised Fore Street, in the heart of the town centre. Occupiers close by include Santander (adjacent), Boots, EE, O2, Lloyds Bank and more.