retail high street
Ref 12517

141 Milton Road

BS22 8AA Weston-Super-Mare

To buy£1,010,000
Size7,395 ft² / 687 m²
Initial yield7%

Description

Freehold Retail Investment Opportunity

Investment Summary

  • Weston Super Mare is a busy town with a large retail catchment area.
  • Prominent roadside location on main road into the town centre.
  • New convenience store that practically completed in February 2018.
  • Total rent roll of £72,500 per annum.
  • 59% of the income is secured to Radstock Co-operative for a minimum of 13.75 years.
  • Offers are sought in excess of £1,010,000(One Million and Ten Thousand Pounds) subject to contract and exclusive of VAT.
  • Attractive net initial yield of 6.79%.  

Description

The property provides two ground floor commercial units and office suites at first floor level. Unit 2 occupied as a convenience store has recently been extended and practically completed in February 2018. Unit 3 has been sold off on a long leaseholdbasis to the owner occupier.The first floor offices are vacant and are to be sold off separately. The specification of the offices includes raised carpeted floors, central heating with wall mounted radiators, double glazed windows and fluorescent strip lighting. We are of the opinion the offices have potential to be converted into residential accommodation subject to gaining the required consents.The property provides 29 associated car parking spaces including 2 designated disabled spaces and designated cycle spaces which are shared between the occupiers.

Energy rating

Energy rating B-B

Location and Transport

The development is prominently positioned off Milton Road, one of the main access roads leading into Weston Super Mare town centre. The area surrounding the property is predominantly residential providing a strong catchment area for the existing occupiers.