The Avenue is a Victorian retail arcade, located in the centre of Bridgwater, just off the main High Street, and offers a mixed retail and office development premises with a variety of users including Beauticians, Hairdressers, Jewellers, Recruitment, Haberdashery, Vintage Clothing and Gift Shop.
The Avenue is available for sale freehold, subject to the existing leases in place; making this an ideal investment opportunity with high occupancy levels.
Full details can be provided on Tenant occupation and Lease status, upon request.
The premises is a Grade II Listed building.
The Avenue comprises of 8 No. retail units at ground floor level with 3 No. office units at first and second floor level.
Two of the retail units at ground floor level have basement access.
The Avenue benefits from security roller shutter doors at both ends of the walkway and Tenants are responsible for opening and shutting on a daily basis.
Ladies and Gentleman communal toilets are available at ground floor level for the few occupiers who do not have access to their own toilet facilities.
Currently, the retail arcade has a net income of £42,230 per annum, on the current occupancy. Based on a purchase at the guide price, this will reflect a net initial yield of 4.5% allowing for standard purchaser’s costs.
Tenure & Terms:
The property is being sold freehold with the benefit of Tenants in occupation on Law Society Lease agreements, all with varying termination dates.
2 out of the 11 No. units within the Avenue are currently vacant although on the market to be let.
Seeking offers on an asking price of £445,000 for the freehold, with the benefit of existing Tenants on Law Society Lease agreements.