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    Key features

    • To be offered on Thursday 27 February
    • High Yielding Retail Investment and Development Opportunity
    • 3 x Retail Units and Associated Upper Parts
    • Fully Let to Separate Tenants
    • Fixed Rental Uplifts
    • Prime Pedestrianised Pitch
    • Consent to Convert the Upper Parts to Provide 6 x Flats
    • Investment Let at £99,333 p.a. (9.93% GIY on Guide Price)
    • Guide Price Reflects 10.1% Yield Following Rental Uplifts

    Description

    The property comprises a high yielding retail investment and development opportunity situated on a prime pedestrianised pitch in Dorchester.

    Arranged as three retail units and yard space with frontages to South Street and Trinity Street, the property is fully let to three tenants producing a total rent of £99,333 per annum with fixed rental uplifts.

    The property benefits from two separate planning consents (Ref: P/PACD/2023/03638 and P/FUL/2021/04625

    for conversion of the upper parts to provide 6 x flats (3 x One Bedroom and 3 x Two Bedrooms).

    The property occupies a prime pitch with frontages to the pedestrianised South Street and Trinity Street to the rear, the street is also the principal pedestrian thoroughfare from several town centre car parks, with approx. 415 spaces. The surrounding area is characterised by national retailers including Waterstones, New Look, Caffe Nero and Fat Face. Tudor Arcade is nearby which is anchored by a Waitrose supermarket.

    Additional information

    Tenure

    Freehold

    Tenancy

    Please see the below Tenancy Schedule for more information.

    Planning

    The property benefits from two separate planning consents (Ref: P/PACD/2023/03638 and P/FUL/2021/04625 for conversion of the upper parts to provide 6 x flats (3 x One Bedroom and 3 x Two Bedrooms).


    There is a further planning consent for the creation of a new access and staircase from South Street to facilitate development of the upper parts. This consent has been implemented and the entrance and staircase have already been constructed.

    Rent

    £99,333 per annum with fixed rental uplifts
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      Accommodation / Tenancy Schedule

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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