The Bear Garage, Bath Road, Melksham SN12 8HN

Investment Consideration:
Gross Initial Yield: 5.66%
Rental Income: £50,913 p.a.
VAT is applicable to this property
Let to Bestway Retail Limited on a lease expiring in 2035 (no breaks)
Lease guaranteed by Bestway Wholesale Limited
Rent Reviews fixed at 2.5% p.a. compounded every 5 years
Prominent roadside position fronting A365

Property Description:
The property comprises a Fuel Station and convenience store, which incorporates a Post Office, on a roadside site comprising 0.186 Ha (0.46 Acres). The Fuel Forecourt has 8 pump stations under a canopy.

The property provides the following accommodation and dimensions:
Ground Floor: 111.6 sq m (1,201 sq ft)

Tenancy:
The fuel station and convenience store is at present let to Bestway Retail Limited (guaranteed by Bestway Wholesale Limited) for a term of 20 years from 16th February 2015 at a current rent of £50,913 per annum and the lease contains full repairing and insuring covenants. Rent reviews fixed at 2.5% per annum compounded every 5 years. Rent rising to £57,603.80 p.a. in 2025 and £65,173.42 in 2030. There is a sub lease of part granted outside of the security of tenure provisions of the Landlord and Tenant Act 1954 for a term ending 14 February 2035 and the use is parking of private motor vehicles or for the sale and display of motor vehicles.

Location:
Melksham is an attractive Wiltshire market town, located 11 miles east of Bath and 6 miles south of Chippenham. Melksham is situated on the A350, which provides access to the M4 Motorway (Junction 17) about 11 miles to the north. The property is located approximately 4.5 miles north west of Melksham in the village of Atworth. The property is situated on the south side of Bath Road (A365), close to its junction with Bradford Road.