A prime freehold retail investment, located in Weston-super-Mare’s High Street has been sold for £410,000, reflecting a net initial yield of 9.0%, by private clients of Hartnell Taylor Cook LLP.
The retail store is let to Toni & Guy (South) Limited on a lease expiring in September 2019, generating an annual rental of £39,000. The property comprises a mid-terraced shop, the ground floor retail unit is currently used as a hair salon with ancillary accommodation at first and second floor levels. The first floor provides a large salon and training room towards the front and WC’s and a small store to the rear. The second floor provides a storeroom, a staff kitchen and small office.
The property, 36 High Street, is prominently located close to the entrance to the Sovereign Shopping Centre, within the pedestrianised section of the High Street, adjacent to The Carphone Warehouse and Thomas Cook Travel Agents. Nearby retailers include M&S, WH Smith, Boots, Dorothy Perkins and Cafe Nero.
Stratton Creber Commercial represented the purchaser, a private investor.
