| Property Type | Investment |
| Tenure | For Sale |
| Size | 779 sq ft |
| Energy Performance Rating | Upon enquiry |
Mixed Use Investment
Key Features
- Next Door to WH Smith
- Town Centre Location
- Car Parking Outside
- Allocated parking spaces at rear
- Income of £18,200 pa
- For Sale Freehold
- £225,000 no VAT
Description
The ground floor retail unit is accessed from the Market Place. It is let and fitted out as a barbershop trading as “Vogue”.
A side passageway that can be accessed from both the front and rear of the property, leads to doorways that provide access to the flats on the first and second floors of the property, and to the rear of the shop. Also in the side passageway is a “trap door” to a cellar that has not been inspected.
Available area
The accommodation comprises the following areas measured on a net internal area (NIA):
| Name | sq ft | sq m |
|---|---|---|
| Ground - Retail | 743 | 69.03 |
| Ground - Store | 36 | 3.34 |
| 1st - Residential | 1 | 0.09 |
| 2nd - Residential | 1 | 0.09 |
| Total | 781 | 72.55 |
Location
Devizes is a popular market town with a population in the region of 15,000 people. The town is also the centre of a strong rural catchment area, which includes many villages and hamlets. The town is approximately 20 miles south west of Swindon and 9 miles south east of Chippenham.
This property is located on the north side of the Market Place with short term parking available at the front of the shop. Adjacent occupiers include WH Smith and Costa Coffee.
Car Parking
The property has the benefit of 3 allocated parking parking spaces at the rear, accessed via the West Central pay & display public car park.
Tenancies
Ground floor
The ground floor retail unit is let to Mr Mustafa Ozceninkaya on an effectively full repairing and insuring lease for a term of 10 years commencing 8th November 2023.
The passing rent is £18,000 per annum, with a review at the end of the 5th year of the Term.
The lease contains a mutual break option effective on 8th November 2025 upon 6 months prior Notice.
The vendor holds a deposit from the Tenant of £4,500.
Upper parts
The 2 separate residential flats on each of the first and second floors are held on leases for a term of 125 years from 29th September 2001. Each tenant pays a rent of £100 per annum and is responsible for a service charge contribution.
Terms
The property is offered for sale freehold subject to the existing lease agreements.
Price
£225,000, subject to contract.
We are advised that the property is not registered for VAT, so no VAT is payable on the rent.
Business Rates
The Valuation Office Agency website lists the ground floor retails unit as having a Rateable Value from 1st April 2023 of £10,000.
EPC
The ground floor retail unit has an Energy Performance Certificate issued in August 2023 with a rating of 49 in Band B
Legal Costs
Each party shall be responsible for their own legal costs incurred in any transaction.
