27-28 Cornhill, Bridgwater, Somerset, TA6

Investment Consideration:
Gross Initial Yield: 8.01%
Rental Income: £44,050 p.a.
VAT is applicable to this property
Comprises two ground floor retail shops t/a Ladbrokes & H&T Pawnbrokers
Residential apartments above have been sold-off on 999-year leasehold
Situated in a busy pedestrianised position between Angel Place Shopping Centre and the main retail area Fore Street, with occupiers nearby including Lloyds Bank (adjacent), NatWest, Specsavers, Greggs, KFC, Prezzo, Sports Direct, Costa Coffee and many more.

Property Description:
Comprises two ground floor retail shops t/a Ladbrokes & H&T Pawnbrokers. The property includes residential apartments on first, second and third floor which have been sold-off on long leasehold. The retail shops benefit of vehicular access at rear and provide the following accommodation and dimensions:
Ground Floor Shop No.27: 123 sq m (1,324 sq ft)
Open plan retail, office, kitchen, store, wc
Ground Floor Shop No.28: 81 sq m (872 sq ft)
Open plan retail, office, kitchen, store, wc
First, Second, Third Floor Residential Flats: Sold-off
Total commercial GIA: 204 sq m (2,196 sq ft)

Tenancy:
Shop No.27 is at present let to Ladbrokes Betting and Gaming Ltd for a term of 10 Years from 1st March 2020 at a current rent of £26,800 p.a. and the lease contains full repairing and insuring covenants. Rent review on 1st March 2025 outstanding. Tenant break option in 2025 NOT exercised.
Shop No.28 is at present let to Harvey & Thompson Ltd t/a H&T Pawnbroker's for a term of 5 Years from 5th September 2021 at a current rent of £17,250 p.a. and the lease contains full repairing and insuring covenants.
The residential apartments on upper floors have been sold-off on long leasehold for a term of 999 Years from 2nd September 2016 at a ground rent of peppercorn.

Location:
The market town of Bridgwater is located 10 miles north-east of Taunton and 33 miles south-west of Bristol. The town lies adjacent to the M5 motorway (Junctions 23 and 24) which provides access to Bristol, The Midlands and the South-West, with the A39 providing east/west links. Bridgwater Rail Station provides regular services to Taunton (10 mins), Exeter St Davids (37 mins) and Bristol Temple Meads. The property is situated in a busy pedestrianised position between Angel Place Shopping Centre and the main retail area Fore Street. Occupiers close by include Lloyds Bank (adjacent), NatWest, Specsavers, Greggs, KFC, Prezzo, Sports Direct, Costa, WH Smith, Boots, HSBC and Vodafone amongst many others.