Summary - 27, CORNHILL TA6 3BY
1 bed 1 bath Retail Property (high street)
Immediate income in a busy Bridgwater retail pitch with refurbishment upside.
Large ground-floor retail: approx. 123 sq m (1,324 sq ft)
Let to Ladbrokes producing £26,800 p.a.; 8.94% gross initial yield
Full repairing and insuring lease; rent review due 1 March 2025 outstanding
Sale subject to VAT; factor VAT in acquisition costs
To be held on new 999-year lease from completion; peppercorn ground rent
Prominent pedestrianised high-street frontage; strong nearby national occupiers
Rear vehicular access and off-street parking included
Location drawbacks: very high crime and very deprived local area
An unusually large high-street retail unit in the heart of Bridgwater, let to Ladbrokes Betting and Gaming Limited producing £26,800 p.a., offers an immediate income stream and a Gross Initial Yield of 8.94%. The ground-floor open-plan retail area (approx. 123 sq m / 1,324 sq ft) benefits from prominent pedestrianised frontage between Angel Place Shopping Centre and Fore Street, with national occupiers nearby that sustain footfall.
The current lease is full repairing and insuring and was granted from 1 March 2020 for ten years; a rent review due 1 March 2025 is outstanding. The sale will be on a new 999-year lease from completion at a peppercorn ground rent. VAT is applicable to this transaction and should be factored into purchase costs.
The town-centre position, vehicular rear access and off-street parking are practical advantages for service and operations. Broadband and mobile connectivity are strong, supporting modern retail operations or alternative uses subject to planning. The property’s mid-century/1960s brick façade and large internal footprint create scope for refurbishment or reconfiguration to suit future occupiers.
Buyers should be aware of material location factors: Bridgwater’s town centre is classified as very deprived with very high local crime levels and a transitional local demographic. These factors can influence occupational demand and rental growth prospects. The unit is therefore best suited to investors who prioritise current yield and hands-off tenancy structure, or to buyers planning a medium-term asset management programme.
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