Long Street, Sherborne, Dorset, DT9

Retail investment property let to Battens Solicitors at an initial rent of £6,500 per annum rising to £8,500 per annum.


SITUATION
The Old Cycle Shop, is situated on Long Street, close to its junction with Cheap Street, Sherborne’s main retailing street. Sherborne is an affluent West Dorset Town with a population of just under 10,000 and also benefits from a wide catchment area by way of neighbouring villages and towns. The town is a popular tourist destination benefiting from Sherborne Castle and Abbey and the town is picturesque with many medieval and Georgian buildings. In addition, its popularity is enhanced by two famous public schools. Sherborne is renowned for its range of quality independent retailers as well as a variety of national outlets including Fat Face, Joules, Waitrose and Sainsbury’s, Orvis and Costa Coffee.

DESCRIPTION
The property is an attractive Grade ii listed period property providing at ground floor level double fronted premises comprising open plan retail / office premises with WC facility and kitchenette. Ground Floor Area 465 sq ft 43.20 sqm. The ground floor is let to Battens Solicitors. The property includes a first and second floor maisonette separately accessed let on a long leasehold basis not inspected.

BUSINESS RATES
The ground floor premises require a new business rates assessment

SERVICES
Mains electricity, water and drainage.

TENURE AND FURTHER INFORMATION
The freehold is to be sold subject to the following tenanciesThe Ground Floor is let to the freehold owner under a head lease for a term expiring 2991 at a peppercorn rent and with a liability towards the repair and maintenance of the communal courtyard equating to 1/6th of the annual cost ( turn the Ground Floor is let to Battens Solicitors on a 5 year lease from January 2024 at a rent of £6,500 in 2024, £7,500 in 2025 and
£8,500 for the remainder of the term The tenant has a break clause in January 2026. The upper floors maisonette is let under an extended lease expiring
2995 at a peppercorn rent. The tenant meets 70% of the property’s building insurance cost and is responsible for repair and maintenance of the maisonette internally and externally and meets 1/6th of the cost of the maintenance and repair of the communal internal courtyard.

EPC
The premises has an asset rating of D94. Full copy of the EPC is available upon request.

RIGHTS OF WAY, EASEMENTS, WAYLEAVE ETC
We are not aware of any rights of way over the land and the property is sold as far as required by the vendor and will be conveyed subject to all rights of way, easements and way leaves of telegraphs poles, drains and wires, electric pylons and cables, water and gas pipes at present erected on and passing over or under the property and subject to the agreements affecting the same (if any).

FIXTURES AND FITTINGS
All fixtures and fittings, unless specifically referred to within these sale particulars are otherwise expressly excluded from the sale.

METHOD OF SALE
The property will be offered for sale by public auction and online livestream auction on Thursday 26th September 2024 at 2pm at the Shrubbery Hotel, Ilminster TA19 9AR. It is possible the property may be sold prior to the action date therefore it is advisable for interested parties to register their interest with the Agents and it is their responsibility to check with the Agents whether the property will still be offered on the auction date.

BUYERS ADMINISTRATION FEE
The successful purchaser(s) of each lot will be liable to pay a Buyer’s Administration Fee based upon the eventual sale price to the selling Agents. Further details are available from the selling agents.

AUCTION PACK
The Auction Pack, containing the contract and special conditions of sale, should be obtained online at Future auctions held by Greenslade Taylor Hunt Online (eigroup.co.uk)These documents will not be read at the time of sale and all prospective purchasers will be deemed to have bid for the property in full knowledge of their contents and shall not raise any requisition or objection whatsoever thereafter.

BIDDER REGISTRATION
All potential online, telephone & proxy bidders are required to register their details with Greenslade Taylor Hunt prior to the commencement of the auction by completing the Online Bidder Registration. attending the auction room to bid in person will complete
bidder registration on arrival to the auction room. All in room bidders must provide 2 forms of Identification in order to register.

VIEWING
Strictly by appointment with sole agents:-
Greenslade Taylor Hunt, 22 Princes Street, Yeovil, Somerset,
BA20 1EQ
Telephone:
Email: farms.