Holly Court Arcade, 115 High Street, Midsomer Norton, BA3 2DA
Guide Price* : £790,000
- Fully Let Retail Arcade Investment
- Producing an annual rent of £90,540 equating to a low £11 per sq ft
- WAULT of approximately 2 years to expiry
- Aggregate NIA of 8,222 sq ft (763.83 sq m)
- Guide Price of £790,000 reflects attractive NIY of 11.46%
The property comprises a retail arcade arranged over ground and first floors. The communal area of the arcade comprises a pedestrian thoroughfare running from the High Street frontage, to the rear of the property. There is an escalator to the rear of the property as well as a stairway providing access to the rear frontage at first floor level which fronts the principal car park in the village. There is a further stairway accessible from the High Street frontage of the property.
The retail units line the causeway through the arcade, with several units having additional frontages to either the High Street or the rear. The majority of tenants are small, boutique, businesses and the units reflect this use.
The property is located in Midsomer Norton a village on the outskirts of Radstock approximately 10 miles south-east of Bath and 15 miles south of Bristol.
The property is situated on the High Street and critically provides the main thoroughfare for pedestrians from the main village car park, which lies to the rear of the property. Therefore the Arcade experiences high footfall.
Midsomer Norton has a very healthy High Street, with a pedestrian promenade running along the south side of the road (to which the property has a frontage). The street includes a mix of local and national retailers, including Sainsburys, Halifax and Papa Johns.
Please see the Tenancy Schedule provided within "Related Documents" found to the right hand side of this page.
Refer to the legal documentation
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (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.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton December 2023
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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