REF: 101148019553

Magdalene Street, Glastonbury

185,000 Available

FEATURES

Property Description
A rare opportunity to acquire a freehold premises enjoying a convenient retail location within the heart of the historic town of Glastonbury. Fully let and producing 13,000 per annum exclusive. This property forms an ideal investment opportunity. For Sale 185,000

LOCATION
The premises are situated in an excellent trading position opposite the junction of Market Place and Northload Street. The main entrance to the famous Glastonbury Abbey is some 50m distant. The existing business is unaffected.

DESCRIPTION
A rare opportunity to acquire a freehold premises enjoying a convenient retail location within the heart of the historic town of Glastonbury. Fully let and producing 13,000 per annum exclusive. This property forms an ideal investment opportunity.

ACCOMMODATION
Retail Premises
No. 10
Ground floor accommodation accessed from the High Street. Flexible retail space with large shop frontage. Separate stockroom/office and W/C.
Total floor area - 117.6m²/1,265ft²

Residential
No. 10a ? First floor flat
No. 10b ? First floor flat
No. 10c ? Ground floor flat.

Tenure and Occupation
The freehold is being offered for sale subject to the existing tenancies.

AMENITIES
The historic town of Glastonbury has a wide range of facilities to cater for all needs and includes shopping, leisure, public houses and restaurants and attracts a large number of tourists throughout the year and particularly during the summer months. Nearby towns include Wells, Shepton Mallet and Somerton.

SERVICES
We understand mains water, electricity and drainage is connected. Interested parties should satisfy themselves as to the availability and capacity of any services.

TERMS
Tenure and Occupation (continued)
No 10a ? Let on 999 year lease commencing 18th May 2005. Leaseholder pays 15.38% of the annual cost of the buildings insurance premium. Peppercorn ground rent. No service charge.
No. 10 ? Let in accordance with Law Society lease agreement commencing 9th December 2002 and expiring 8th December 2023. Current rent 12,000 per annum exclusive. Tenants are responsible for internal repairs and decoration. Tenants pay 43.18% of the annual cost of the buildings insurance premium. The rent may be reviewed with effect from every third anniversary with the rent increase assessed on open market levels.

No. 10 includes an ATM machine which achieves a rent of 1,000 per annum.

No 10b ? Let on 999 year lease commencing 18th May 2005. Leaseholder pays 25.44% of the annual cost of the buildings insurance premium Peppercorn ground rent. No service charge.

No 10c ? Let on 999 year lease commencing 18th May 2005. Leaseholder pays 16% of the annual cost of the buildings insurance premium Peppercorn ground rent. No service charge.

OUTGOINGS
No. 1: Rateable Value 13,500 (1st April 2017).
Flat 1 ? Council Tax Band A
Flat 2 ? Council Tax Band A
Flat 3 ? Council Tax Band A

SERVICE CHARGE
N/a

PLANNING
Any planning enquiries should be made directly to the Local Planning Authority, Mendip District Council. Located within a Conservation Area. Not listed.

OTHER
Cooper and Tanner for themselves and for the Vendors of this property, whose agents they are, give notice that:

? The particulars are prepared in good faith to give a fair and substantially correct overall description for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice.
? All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by inspection or otherwise as to the correctness of them.

VIEWING
By appointment only through the agents.
Cooper and Tanner LLP.
Telephone: 01458 834288 (Ref: 9340)


Viewing Please contact our Glastonbury Office on 01458 831077 if you wish to arrange a viewing appointment for this property or require further information.
Disclaimer Cooper and Tanner endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.
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