Commercial property for sale in The Triangle, Clevedon BS21

A two storey commercial investment property, let to W H Smith on a 5 year term from June 2023 on a fully repairing and insuring basis, at £20,000pa. The property also offers long term redevelopment potential.

The shop is situated in the heart of Clevedon in a busy parade. Early enquiries are recommended.

For Sale By Auction

This property is due to feature in our online auction on 27 June 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

Viewings

By appointment.

Summary

Commercial investment with long term redevelopment potential.

Description

A two storey commercial investment property, let to W H Smith on a 5 year term from June 2023 on a fully repairing and insuring basis, at £20,000pa. The property also offers long term redevelopment potential.

The shop is situated in the heart of Clevedon in a busy parade. Early enquiries are recommended.

Location

Situated in a busy trading position in Clevedon on the junction with Station Road. Neighbouring occupiers include Cancer Research and Greggs.

Accommodation

Please refer to floorplan for approximate room measurements and internal layout.

Ground Floor

Floor Areas

Given the irregular orientation, the measurements and floor plan should be treated as indicative only.

Retail Area: Approx. 750 ft2 with additional ancillary storage.
First Floor: Approx. 1,148 ft2 (Gross Internal Area)

Completion

Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.

Energy Performance Certificate (Epc)

Rating: C (expires April 2034)

Tenure

Offered for sale on a freehold basis, subject to the commercial lease as noted below.

Lease Details

The property is let to W H Smith Retail Holdings Limited for a term of 5 years from the 19th June 2023 (subject to a tenant break option on the 19th June 2026), at a passing rent of £20,000pa on a fully repairing and insuring basis.

Business Rates

The Rateable Value with effect from April 2023 is £16,000.

Letting - What Can Maggs & Allen Achieve For You?

Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on or email .

Auction Or Bridging Finance Required?

Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on or email

Buyer's Premium

Please be advised that all purchasers are subject to a £1,250 plus VAT (£1,500 inc VAT) buyer’s premium payable upon exchange of contracts.

*Guide Price

Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Reserve Price

The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Proxy, Telephone & Online Remote Bidding

The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, id (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.

Preliminary Deposits

The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:

£1,000 - £150,000: £5,000
£151,000 and above: £10,000

If you bid is successful, the balance of the deposit monies and Buyer’s Premium (1,500 inc VAT) must be transferred to our client account within 24 houra of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.

Rental Estimates

All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.