96 Moorland Rd 1,937 SF 100% Leased Retail Building Weston Super Mare BS23 4HT $408,908 CAD ($211.10 CAD/SF) 7.72% Cap Rate

Hairdresser, Health Food Store and Flat
Freehold Shops and Residential Investment
VAT is NOT applicable to this property
Comprising a shop, carpenters and self-contained two bedroom flat
Prominent local frontage in a residential area
Occupiers nearby include The Sea Shell (opposite), Memorable Moments Nursery (adjacent), The Post Office, Shaws Chemist, Total Care at Home and Kool Kutz pet grooming amongst a number of local occupiers
Property Description:
The property is arranged on ground and one upper floor to provide a ground floor shop, currently trading as a hairdresser with a self-contained flat above. To the rear of the property is a ground floor workshop, accessed off Lyndhurst Road. The property benefits from parking for approximately 2 cars. The property provides the following accommodation and dimensions:
Ground Floor Shop
Gross Frontage: 7.30 m (23'11")
Net Frontage: 2.80 m (9'2")
Return Frontage: 4.85 m (15'11")
Shop Depth: 11.90 m (39'0")
Ground Floor: 75.30 sq m (811 sq ft)
Ground Floor Rear Commercial Unit
Gross Frontage: 7.30 m (23'11")
Shop Depth: 4.60 m (15'1")
Ground Floor: 26.66 sq m (287 sq ft)
First Floor Flat
Comprises 3 Rooms, Kitchen, Bathroom and Separate WC
78 sq m (839 sq ft)
Tenancy:
The Ground Floor Shop is at present let to Mr P Roche t/a Roche Hairdressers for a term of 3 years from 24th June 2014 (Holding Over) at a current rent of £8,100 per annum and the lease contains internal repairing and insuring covenants. The First Floor Flat (No. 96B) is at present let on an AST to an individual for a term of 12 months from 2004 (Holding Over) at a current rent of £5,280 per annum. The Ground Floor Rear shop (No. 96C) is at present let to Nordic Botanics Ltd t/a Health Food Store (personal guarantee) for a term of 1 year from 5th April 2019 (Holding Over) at a current rent of £3,600 per annum and the lease contains full repairing and insuring covenants. We have been told that discussions are happening to renew the lease for a longer duration.
Location:
Weston-super-Mare is a busy resort town located at the mouth of the River Severn some 21 miles south-west of Bristol, and serves a resident population of 80,000 and a core catchment of 199,000. The town is within 4 miles of Junction 21 of the M5 Motorway and has regular rail services. The property is situated on the south side of Moorland Road, at its junction with Lyndhurst Road in a predominantly residential area. Occupiers close by include The Sea Shell (opposite), Memorable Moments Nursery (adjacent), The Post Office, Shaws Chemist, Total Care at Home and Kool Kutz pet grooming amongst a number of local occupiers.