36A New Park Street, Devizes, Wiltshire, SN10

Investment Consideration:
Gross Initial Yield: 9.00%
Rental Income: £9,000 p.a.
VAT is NOT applicable to this property
Comprises ground floor shop t/a hair salon with ancillary accommodation at first floor
Occupiers close by include Majestic Wine, Carpetright and a mix of local retailers.

Property Description:
Comprises Grade II Listed property arranged on ground and one upper floor to provide a ground floor hair salon with kitchen and ancillary accommodation to the rear. On the first floor are two large rooms and a bathroom, which is off one of the rooms. The second floor does not form part of the property to be sold.
Ground Floor: 58 sq m (625 sq ft)
Open plan retail, kitchen, storage
First Floor: 47 sq m (505 sq ft)
Ancillary accommodation
Total GIA: 105 sq m (1,130 sq ft)

Tenancy:
The property is at present let to an Individual for a term of 6 years 11 months from 22nd November 2024 at a current rent of £9,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 30.09.28 open market upward only. Tenant option to determine on 01.10.27 with minimum 6 month notice. Deposit held of £2,000. Lease renewal. Tenant in occupation since 2017

Tenure:
Leasehold. To be held on a new 150 year lease from 21st August 2017 at a ground rent of a peppercorn.

Location:
The attractive market town of Devizes in the county of Wiltshire has a resident population of 13,200 and stands on the eastern edge of the Vale of Pewsey. It is located 11 miles south-east of Chippenham, 11 miles east of Trowbridge and 19 miles south-west of Swindon. Road communications are good, with the town being located at the junction of the A361 and A342 which leads to Junction 17 of the M4 Motorway. The property is situated on the edge of the town centre at the junction of New Park Street (A361) and Couch Lane, 200m north of Market Place. Occupiers close by include Majestic Wine, Carpetright and a mix of local retailers.