505 Worle Parkway, Weston-Super-Mare

Worle business park, Worle, Weston-super-Mare BS22 6WA, UK
£435,000
  • Status: Sold
  • Size: 2268 sq. ft.
  • Tenure: Freehold
  • Property Type: Investment
  • Location: Weston-Super-Mare
  • Offer type: For Sale , Sold

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Property Description

Location

Worle Parkway is located approximately 0.7 miles from Junction 21 of the M5 via the A370 and is situated adjacent to Worle Parkway railway station.
Weston-Super-Mare town centre is approximately 3 miles to the west. There is good access to Bristol City Centre which is approximately 14 miles to the north, Bristol Airport is 7 miles away and Taunton lies approximately 20 miles to the south.

Description

The premises comprise two storey offices incorporating gas central heating, fire alarm, suspended ceilings, carpeting to office areas and toilet facilities on each floor. Externally there are 12 car parking spaces.

Tenure

The premises are held on a 999 year long leasehold interest from Worle Management Limited which the owners have a share in. The lease is from 2003 and is subject to a peppercorn rent.

Tenancy

The property was let on 19th April 2023 to Finch & Associates Ltd on a ten year full repairing and insuring lease with a tenants break and rent review at the end of year five, with an initial rent of £32,000 per annum exclusive.

Price

We are seeking offers in the region of £435,000 which would show a net initial yield of 7.05% after purchasers costs at 4.39%.

VAT

The property is elected for VAT and it is therefore chargeable.

EPC

The property has an EPC rating of C (70).

 

Plans

Floorplans