Available
Weymouth – Retail Shop
89 The Esplanade, Weymouth, Dorset DT4 7APVirtual Freehold Retail Investment
Price
£140,000
Rent P.A.
£10,000
Yield
7.14%
Tenure
Leasehold
Lease Term
5 Years
Years Left on Lease
3y 5m
Area
338 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop t/a convenience store
- Property benefits from seating/retail outdoor area at front
- Occupying a prominent beach front location only 100 yards from the prime retailing in Weymouth Town Centre.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
The property comprises prominent seafront ground floor retail shop t/a convenience store, providing the following accommodation and dimensions:
Ground Floor: 31 sq m (338 sq ft)
Open plan retail area, storage
Ground Floor: 31 sq m (338 sq ft)
Open plan retail area, storage
Tenancy Description
The property is at present let to an Individual for a term of 5 years from 1st October 2022 at a current rent of £8,000* per annum and the lease contains full repairing and insuring covenants. Lease within Landlord & Tenant Act 1954.
*Fixed increase to £10,000 p.a. in October 2024 until the remainder of the lease. Vendor will top up rent, so the buyer receives the equivalent of £10,000 p.a. from completion.
Tenure:
Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
*Fixed increase to £10,000 p.a. in October 2024 until the remainder of the lease. Vendor will top up rent, so the buyer receives the equivalent of £10,000 p.a. from completion.
Tenure:
Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Occupying a prominent beach front location only 100 yards from the prime retailing in Weymouth Town Centre and multiples such as McDonalds, KFC, Sports Direct and Matalan. Weymouth is a popular and attractive South Dorset coastal resort, which benefits from high levels of tourism in the summer months and enjoys good road access from the A35 via the A354