87,88,89 The Esplanade, Weymouth, Dorset DT4 7AP
£357.99 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,271 sq ft
118 sq m
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: Class E
E
Description
Gross Initial Yield: 7.47%
Rental Income: £34,000 p.a.
VAT is NOT applicable to this property
Comprises 3 ground floor retail shops with 6 residential flats above (sold-off)
Occupying a prominent beach front location only 100 yards from the prime retailing in Weymouth Town Centre.
Property Description:
Prominent seafront building comprising 3 ground floor shops and 6 residential flats, which have been sold off on long leasehold. The property benefits from communal basement and provides the following accommodation and dimensions:
Ground Floor: 118 sq m (1,271 sq ft)
Shop No.87 - 45 sq m (480 sq ft)
Shop No.88 - 42 sq m (453 sq ft)
Shop No.88 - 31 sq m (338 sq ft)
First/Second/Third Floor: 6 Flats (sold-off)
Tenancy:
Shop No.87 is at present let to an Individual for a term of 3 years from 1st July 2022 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Lease within Landlord & Tenant Act 1954.
Shop No.88 is at present let to an Individual for a term of 3 years from 19th January 2022 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Lease within Landlord & Tenant Act 1954.
Shop No.89 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.
Residential Flats have been sold-off on long leasehold for a term of 999 Years from 17th February 2020 at a ground rent of peppercorn.
Location:
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
Brochures
87,88,89 The Esplanade, Weymouth, Dorset DT4 7AP
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Weymouth Station0.2 miles
- Upwey Station2.5 miles
About Blue Alpine, London
54 Welbeck Street, London W1G 9XS
Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.
Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can a
Notes
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