Investment - Industrial 16,500 SqFt Tonedale, Wellington
Tenure: Freehold
For Sale £550,000 - £599,000 Guide Price
FOR SALE By Private Treaty Or Online Auction -, Foxes Yard, Milverton Road, Tonedale, Wellington, Somerset, TA21 0AJ
Key Features
- Income Producing site
- Development Opportunity
- Barn Conversion
- Affluent Area
- Close to Future train station
Description
For Sale by Private Treaty or Online Auction - 2024
The subject property for sale includes 3 properties (Two leased + One Vacant) on a site which is approximately 0.84 acres or 36,500 Sq ft. Access will be via the main gate on Milverton Rd over which the owner will grant a right of way into the site.
Comments
Viewings strictly by prior appointment with the agents: Paul Reed at Barnsdales - Chartered Surveyors Tel: Mb 07824 771790 paul.reed@barnsdales.co.uk
Wellington has a population of approximately 15,000 people and the site is located approximately one mile from Wellington town centre within an easy walk of the town's facilities and is accessed directly from Milverton Rd which takes transport over the Tone River to the north of the town centre. The town has excellent transport links to the M5 Motorway (J26) and good access to the mainline railway stations of Tiverton and Taunton whilst also being very close to the future proposed Wellington railway station at Tonedale. 1 mile - Wellington 16 miles - Tiverton 7 miles - Taunton The site lies to the North of Wellington town centre opposite the New Heritage Mill estate a short walk away from Swallowfields Plc HQ (Produces aerosol, cosmetic and toiletry products, air fresheners and insecticides) and Relyon (Beds). The County town of Taunton and the Quantock Hills, (an Area of Outstanding Natural Beauty) lie approximately 7 miles to the North-East whilst a short distance to the South-West, is Tiverton
There are 3 buildings on the site adjacent to The Pump House restaurant and Abacus Builders yard (not included in this sale) Units 1 2 3 + Yard Building 1: Woolly Sheppard occupies this building of 5,508 sq ft on a 10 year lease from 1st May 2018 and are paying £32K p.a. with a break in May 2023 which they have not exercised. This equates to £5.80psf Building 2: Graham Sparks Restorations occupy 4,074 sq ft on a 3 yr lease paying £14,350p.a.(£3.52 psf) Building 3: The long building (The development Opportunity) is vacant but comprises approximately 6,500 sq ft and currently has B2 use Current income is £46,350 p.a. and an ERV reversion of *£96kp.a.when fully let Adjacent Site: Please see below link to Wellington Place Plan showing the refurbishment to Tone Mill & Works.(Owned by the Council) https://yoursay.somersetwestandtaunton.gov.uk/local-plan/wpp/user_uploads/230117_wellington-place-plan_final_spreads.pdf Definitely potential for development, as Town Council have listed this as an 'at risk heritage site' and key to save for community-led, with mixed flexi-use on the site.
The adopted rateable value is not known not available or not applicable unless specified.
The premises are available to let on flexible lease terms for term to be agreed. The tenant shall be responsible for the cost of insurance all repairs and decorations and a proportion of the cost of maintaining any common parts.
Viewings strictly by prior appointment with the agents: Paul Reed Barnsdales - Chartered Surveyors Tel: Mb 07824 771790 paul.reed@barnsdales.co.uk
Each party is to be responsible for their own legal costs incurred in this transaction.
We have not seen sight of any EPC's but are assuming EPC - D
Mains Electricity, Gas, Water and drainage are connected to the site. Telephone lines and internet will need to be connected by the purchaser.
EPC awaited or not required