Somerset House, 122 - 124, High Street, Weston-Super-Mare,
FOR SALE, £325,000
COVID UPDATE – LOCKDOWN 3.0
Following Government advice ( 05.01.21 ) the housing market will remain open during the new lockdown in England.
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Somerset House, 122-124 High Street, Weston Super Mare, BS23 1HP
A Freehold double width mixed use property ( 11,493 Sq Ft ) with large ground floor commercial unit ( trading as a public house / music venue ) with 2 floors of accommodation above with independent access from the High Street plus scope for additional rear access from Market Lane.
Upper floors - vacant
Ground floor - sold subject to existing tenant ( see below )
The High Street is situated in the heart of Weston Super Mare's town centre.
Local amenities, services, independent retailers, pubs, bars, restaurants and the famous Grand Pier are all within walking distance.
Bristol is approximately 24 miles away via the M5 motorway network.
RESIDENTIAL DEVELOPMENT OPPORTUNITY.
The upper floors have been vacant for nearly 20 years and now require complete modernisation but offer huge scope for residential conversion.
They offer a range of opportunities from 7 - 9 units or several HMO units.
The vendors have had some preliminary drawings prepared to convert the building - please refer to legal pack.
Subject to gaining the necessary consents.
GROUND FLOOR - PUBLIC HOUSE
The tenants on the ground floor signed a new 5 year lease in August 2020
This was subject to 3 months Free Rent whilst renovation works were being completed ( at tenants expense )
The rental income of £2,000 pcm ( plus contribution to insurance ) was due to be paid in November 2020 but as yet no rent has been paid and the tenants are already in arrears.
Buyers will need to negotiate the payment of rent directly with the tenant upon completion.
Please refer to legal pack for copy of the lease.
PROPERTY DETAILS DISCLAIMER
Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens. The seller does not make any representation or give any warranty in relation to the property and we have no authority to do so on behalf of the seller.