Freehold Retail Investment Let to Timpson Limited Currently Producing £21,000 per annum

Two storey corner retail premises situated in the pedestrianised area of Fore Street, the main shopping street within Trowbridge, close to the Shires Shopping Centre. Retailers in the immediate vicinity include Starbucks, Costa Coffee, Clarks and HSBC. Trowbridge is the county town of Wiltshire with a population of 33,108 (2011 census) and is situated approximately 8 miles south east of Bath. According to the VOA the property provides the following net internal floor areas: Ground Floor (sales and ancillary) 53.7 sq m (578 sq ft) First Floor (storage) 42.1 sq m (453 sq ft) The property is currently let to Timpson Limited by way of a 10 year FRI lease from February 2012 at a current passing rental of £21,000 per annum. We are informed that the 2017 rent review is currently outstanding and that Timpsons have been in occupation of this property since 1986. Timpson Limited currently trade from over 1,000 stores nationwide and for the year end October 2016 reported a turnover of £142.6 million, pre-tax profit of £10.1 million & a net worth of £50.1 million. VAT is applicable to this Lot. A purchase at the guide price equates to a net initial yield of 8.52%, assuming purchasers costs at 2.75%.

Tenure

Freehold

Viewing

Please contact Auction House North West Commercial on 0161 830 7477

Energy Efficiency Rating (EPC)

Current Rating D

Local Authority

Wiltshire Council

Additional Fees

Buyer's Premium - £900 including VAT payable in addition to the Administration Charge

Administration Charge - 0.9% including VAT subject to a minimum of £900.00 including VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.