FREEHOLD INVESTMENT LET TO THREE LARGE NATIONAL COVENANTS PRODUCING £237,000PA
The property comprises a high yielding retail investment opportunity let to three national covenants, including Vodafone Ltd, Telefonica UK Ltd and National Westminster Bank Plc. The entire first and second floor offices including in Natwests lease.
*Please note - the auctioneers have not been able to inspect the proeprty internally - and therefore are unable to confirm the condition of the property*
Location
he property occupies a prominent prime position in Taunton town centre. Nearby are other large commercial users including LLoyds Bank, Costa Coffee and Barclays Bank
Accommodation
26a Fore Street (02) - 128 sq.m.
26 Fore Street (Vodaphone) - 158 sq.m.
27 Fore Street (Natwest) - 1,410 sq.m.
* All areas are taken from the EPC's*
Terms
26 Fore Street is let to Vodafone Limited on a new term commencing 27th March 2024, until 23 March 2029 with a current rent of £42,XXXa. There is a tenants break clause on 23 March 2027. Prior to this lease Vodafone had a 15 year lease from 2009.
26a Fore Street is let to Telefonica UK Limited (operating under the brand name 02) on a term commencing 25th June 2020, expiring 24th June 2025 with a current rent of £40,XXXa. No break clauses.
27 Fore Street is let to National Westminster Bank PLC (operating under the brand name Natwest) on a 10 year term from 19th April 2016 with a current rent of £155,XXXa subject to review every 5 years.
All leases are let on an effective FRI terms.