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Commercial Properties For Sale in Devizes, Wiltshire

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42, Market Place, Devizes
Retail Property (out of town)

Investment summary - Freehold investment - Total passing rent of £82,300 per annum - Devizes is a busy and attractive market town - The investment compromises a 8,105 sq ft (752.97 sq m) mixed use building, offering basement and ground floor restaurant accommodation and three residential flats on the first and second floors - External seating area - 33% of the income secured on AST's - 67% of the income is secured to Loungers UK Limited, a 'very low risk' covenant tenant that entered into a lease in 2021, with 9.5 years remaining on the unexpired term - Net Initial Yield - 8.25% The building extends over basement, ground, first and second floors. It is a Grade II Listed building of traditional brick construction, with rendered elevations beneath both pitched and flat roofs. The basement and ground floors occupied by Loungers. The ground floor features a fully glazed shopfront and provides customer seating, a bar area, an accessible WC and staff facilities. To the rear glazed doors lead to an external seating area arranged across two levels, with the capacity for approximately 60 covers. The basement offers ancillary space including male and female WCs. In addition to the main Market Place frontage, the property also benefits from a secondary rear entrance providing access to the first and second floors. The upper floors comprise two one-bedroom flats on the first floor and a two-bedroom flat on the second floor, each with their own private entrance. All fats are.

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