The retail premises have an 8m gross frontage onto Wood Street with a site depth of approximately 42m. Included within the footprint of the building is covered car parking for approximately three vehicles. Towards the rear is a modern two storey office premises.
Vehicular and pedestrian access to the rear of the site is via a private service yard which leads from Rother Street marketplace. The property offers a good quality investment or a redevelopment opportunity subject to planning and vacant possession.
Net initial yield of 8.94% assuming normal purchasers’ costs.
Location
Stratford is an affluent Warwickshire market town 22 miles south-east of Birmingham and close to the Cotswolds. J15 of the M40 is 5 miles distant. It is an international tourist destination with over 2.5 million visitors annually. The resident population of approximately 55,000 together with the high number of visitors makes Stratford a vibrant town centre location.
The property is on Wood Street which is a busy retail pitch in Stratford-upon-Avon Town Centre. It occupies a prominent location close to many national retailers inc Fat Face, CEx, Boots Pharmacy and the Nationwide Building Society. It is in close proximity to Bell Court which anchored by Everyman cinema together with other national covenant restaurants inc. Nandos and Miller & Carter Steakhouse.
Accommodation
The property provides the following net internal floor area:
Ground Floor - 283.15 sq m (3,048 sq ft)
First Floor - 151.75 sq m (1,632 sq ft)
Total NIA - 435 sq m (4,680 sq ft)
Terms
Price - Offers Over £XXX
Lease Terms - 15 years from 23.01.2006 to 21.1.2021 to Done Brothers (Cash Betting) Ltd trading as Betfred on a full repairing and insuring lease at a passing rent of £XXXpa
Business Rates - The property is currently listed as having a rateable value of £XXX
Legal costs, VAT & References - Each party will be responsible for their own professional fees.
EPC - Energy Efficiency Band D.
Specification
- A Substantial Town Centre Freehold Investment
- Let to national covenant firm
- Total Income £XXX per annum
- Net Initial Yield 8.94%