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8-10 Boulevard, Weston-Super-Mare, BS23 1NA
10,667 Sq Ft / Retail
Withdrawn - Last updated: 05 October 2020
Freehold Retail Investment Opportunity
Tesco and Dominio's Pizza investment opportunity Situated close to the pedestrianised High Street in a strong positionPotential for conversion of under utilised upper partsLet to Tesco Stores Ltd and D P Reality Ltd (t/a Domino's Pizza) on leases expiring in 2023Total rent roll of 92,863 per annum based on the topped up rental on Unit 173% of the income secured to Tesco Stores Ltd (5A1 D&B)Tesco's income reviewed to RPI (cap and collar)Offers invited in excess of 1,175,000, subject to contractAttractive initial yield of 7.46%SpecificationThe building, which has been subdivided and redeveloped by the vendor, now provides two shop units comprising ground floor retailing together with first floor and second floor (Unit 2 only) storage and office space. The upper parts are under utilised by both tenants, and therefore, provide sector for a surrender/restructure and conversion to residential or other use subject to planning.
The upper floor to Unit 2 has a separate access and is already capable of separation. The accommodation currently provides storage and toilet facilities for the unit. The first floor of Unit 1 currently provides kitchen and staff facilities, and is accessed from the rear of the property. The second floor accommodation is not readily accessible, and no rental value has been attributed to the area.
The rear yard area provides parking and can be accessed from both Unit 1 & 2. TermsFreehold
Location
8-10 Boulevard, Weston-Super-Mare, BS23 1NA, Somerset, , South West
Weston Super Mare is a seaside town located in Somerset which has a population of approximately 80,000 people. It is located 21 miles south west of Bristol, 18 miles north east of Bridgwater and 141 miles west of London.
The town has strong road connectivity and is just 4 miles away from the M5 motorway. The M5 provides a direct link to Bristol, Birmingham and the Midlands to the North and Taunton, Exeter and the West Country to the South. The town is a popular commuter town for Bristol and Taunton. Weston Super Mare also benefits from a main line connection with both Bristol and London Paddington with a journey time of around 30 minutes to Bristol and 2 hours 35 minutes to London.
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