32-33 Roundstone Street, Trowbridge, Wiltshire, BA14

Investment Consideration:
Gross Initial Yield: 8.16%
Rental Income: £26,520 p.a.
VAT is applicable to this property
Comprises two ground floor shops and 7 residential flats above (all sold-off)
Shops let to established tenants until 2031 and 2039 with no break clauses
Ground rent doubling in 2033 and 15 yearly RPI reviews thereafter
Situated within the town centre with occupiers nearby including Post Office, Tattoo Studio, Café, Takeaway`s and more.

Property Description:
Comprises two large ground floor shops t/a Pharmacy and Chinese Wellbeing. The property includes 7 residential flats above and rear, which have been sold-off on long leaseholds, providing the following accommodation and dimensions:
Shop No.32: 69 sq m (742 sq ft)
Reception, treatment rooms, kitchen, storage, wc
Shop No.33: 110 sq m (1,184 sq ft)
Open plan retail, office, storage, kitchen, wc
Rear Ground/First Floor: 7 Residential Flats (sold-off)

Tenancy:
Shop No.32 is at present let to an Individual for a term 6 Years 11 Months from 13th January 2025 at a current rent of £7,020 per annum and the lease contains full repairing and insuring covenants. Rent review every 3rd year open market upward only. No breaks. Deposit held of £1,000. Lease renewal, tenant in occupation since 2020.
Shop No.33 is at present let to St Aldhelm`s Pharmacy Limited for a term of 15 Years from 1st February 2024 at a current rent of £16,000 per annum and the lease contains full repairing and insuring covenants. Rent review every 5 years open market upward only. No breaks.
Flats 1-7 have been sold-off on long leaseholds for a term of 250 Years from 2018/2020 at a ground rent of £500 p.a. (each). Fixed rental increase to £1,000 p.a. each (£7,000 p.a. total) in April 2033 until 2048. Rent review in 2048 and every 15 year thereafter linked to RPI.

Location:
Trowbridge is a prosperous Wiltshire town and administrative centre located 12 miles south of Chippenham and 8 miles south-east of Bath. The town is located on the A361 approximately 16 miles south of the M4 Motorway (Junction 17). Trowbridge Rail Station provides regular services to London Paddington (approx. 2 hours). The property is situated within the town centre with occupiers nearby including Post Office, Tattoo Studio, Café, Takeaway`s and more.