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Lot 6

Freehold Town Centre Retail Investment let to Marks & Spencer PLC – Gross Yield 10.6%
6 week completion

SITUATION

Occupying a prominent position in this historic market town and adjoining the main pedestrianised shopping street of The Brittox which houses such multiple retailers as Boots, Iceland, Caffe Nero, Holland & Barrett, Specsavers, Jennings Bet, Timpson and Card Factory.
Devizes is an affluent market town located approx. 20 miles east of Bath and 19 miles south-west of Swindon.

PROPERTY

A mid terraced building comprising a Large Ground Floor Retail Unit with internal access to Ancillary Accommodation on the first floor and separate rear communal access to 2 Self-Contained Flats (see Note 2) on the second floor.
In addition, the Retail Unit has a rear customer entrance and the property includes a rear loading/parking area accessed via a communal service road.

VAT is applicable to this Lot

FREEHOLD

ACCOMMODATION

36 Monday Market Street - Ground Floor Retail Unit
Gross Frontage	46'0"
Built Depth	103'0"
Area	Approx. 5,791 sq ft¹
First Floor Ancillary
Area	Approx. 4,942 sq ft¹
Total Area	Approx. 10,733 sq ft

52 New Park Street - Second Floor Flat
2 Bedrooms, Living Room/Kitchen/Diner, Bathroom/WC
Area	Approx. 667 sq ft²

53 New Park Street - Second Floor Flat
3 Bedrooms, Living Room/Kitchen/Diner, Bathroom/WC
Area	Approx. 818 sq ft²

¹Area taken from VOA.
²Not internally inspected by Barnett Ross. Area taken from EPC.

TENANCY

The entire property is let on a full repairing and insuring lease to Marks & Spencer PLC (having over 1,000 UK owned & Franchise Stores) (T/O for Y/E 30/03/24 £12.897bn, Pre-Tax Profit £687m and Shareholders’ Funds £4.748bn) for a term of 25 years from 28th February 2005 at a current rent of £84,655 per annum exclusive.

Note 1: The Tenant did not operate their February 2025 Break Clause.

Note 2: The 2 Flats are each underlet for a term of 99 years from 29th September 1985 at a peppercorn ground rent. Therefore, there are 2 Valuable Reversions in approx. 59 years.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

36 Monday Market Street and 52 & 53 New Park Street, Devizes, Wiltshire SN10 1DW