47-48 Broad St 1,223 SF Retail Building Lyme Regis DT7 3QF $479,862 CAD ($392.36 CAD/SF) 10.78% Cap Rate

A rare freehold retail investment property in the centre of Lyme Regis.
The freehold interest is available to purchase at a guide price of £260,000, representing an approximate gross yield of 10.78%.
The shop is let to Weird Fish on effective FRI commercial terms, expiring on 31st December 2026 at a passing rent of £28,000 per annum. Prior to Weird Fish opening their store in Lyme Regis in May 2025 the premises was occupied by Costa Coffee. The tenant is responsible for internal repairs and redecoration of the premises and contributes a 68% proportion towards the landlord's insurance costs. A service charge is payable in respect of the landlord's costs incurred in the maintenance and repair of the building.
This prominently positioned property has excellent frontage on Broad Street, the town’s busy main shopping street, with excellent visibility and high footfall. The property comprises the freehold interest in Lyme Regis' town centre with a ground floor shop premises, currently let to a prime retail tenant and producing an annual rent of £28,000. There is a first and second floor flat, which has been sold off on a long lease, generating £30 per annum in ground rent. The shop measures approximately 108.6 sq m (1,169 sq ft), with a generous shop floor, offices, stores and staff kitchen and toilets. There is also a large rear garden area and external store measuring approximately 5 sq m (54 sq ft). The first and second floor apartment is in separate ownership under a long leasehold title.
The property is situated in the heart of Lyme Regis, on the north side of Broad Street in Lyme Regis' town centre.