12 Stall Street Bath, BA1 1QE New 10-Year Letting to Kingdom of Sweets

Home , Bath Spa railway station, Hereford

12 Stall Street Bath, BA1 1QE New 10-year letting to Kingdom of Sweets

100% Prime Freehold Value-Add Opportunity Key Investment Criteria.

• New 10 year lease to Kingdom of Sweets

• High footfall location near tourist attractions and transport hub

• Dominant retail centre with one of the UK’s most affluent catchments

• Normally attracts over 6.28 million tourists per annum

• Landlords break options in 2024 and 2026 to unlock opportunity to extend and convert upper parts

• Freehold

Seeking offers in excess of £2,000,000

Attractive Net Initial Yield of 6.12%* *After allowing for purchaser’s costs of 6.28%. Subject to contract and exclusive of VAT A69 NEWCASTLE UPON TYNE HEXHAM

A68 A694 SUNDERLAND A693

A690

DURHAM A68 A19

A1(M) BISHOPS HARTLEPOOL AUCKLAND A689

A68 MIDDLESBROUGH BARNARD CASTLE DARLINGTON A66 A66 A19

M6 A585

BLACKPOOL M65 LEEDS M55 A59 BURNLEY BRADFORD A583 PRESTON BLACKBURN A646 HALIFAX M62 CASTLEFORD M65 A56 A59 M62

SOUTHPORT A666 HUDDERSFIELD M6 M61 M66 A570 BOLTON M62 A5758 WIGAN M58 M1 A628 MANCHESTER M6 M57 M62 M60 ROTHERHAM LIVERPOOL WARRINGTON PEAK DISTRICT SHEFFIELD NATIONAL PARK

M53 M56 A623

NORTHWICH MACCLESFIELD CHESTERFIELD LINCOLN A550 CHESTER M6 A53 A523 M1 MANSFIELD A6 A34 A515 A423 A534

A385 A46 STOKE-ON-TRENT A52 BOSTON NOTTINGHAM A515 DERBY

A453 A50 BURTON UPON TRENT A53 MELTON A46 A515 MOWBRAY KING’S LYNN M1 M6 A38 A41 SHREWSBURY M54 NORWICH M42 LEICESTER GREAT M6 Toll A444 DOWNHAM YARMOUTH MARKET A442 WOLVERHAMTON M69 PETERBOROUGH A49 A458

CORBY LOWESTOFT A458 BIRMINGHAM M6 M1 A1(M) THETFORD M5 M42 COVENTRY KETTERING A141 A14 KIDDERMINSTER RUGBY M42 A14 A46 M45 A49 A456 A508 A423 WELLINGBOROUGH A14 A449 A1 A14 NEWMARKET A6 A14 CAMBRIDGE STRATFORD-UPON-AVON NORTHAMPTON BEDFORD WORCESTER A5 M40 A11 A46 M1 M11 IPSWICH A429 ST GEORGE’S CHANNEL SUDBURY BANBURY MILTON A1 HEREFORD KEYNES A505 FELIXSTOWE M5 M1 A6 A470 M50 Location A5 HARWICH A40 M40 LUTON STEVENAGE STANSTED A44 CHELTENHAM A120 A40 LUTON COLCHESTER BRECON BEACONS A41 DUNSTABLE A10 Bath is located in the south west of England in the County NATIONAL PARK GLOUCESTER A429 A1 (M) BISHOP’S CARMARTHEN HERTFORD WARE STORTFORD A12 A470 AYLESBURY HEMEL ST CLACTON-ON-SEA of Somerset. The affluent spa city is a world-famous tourist ALBANS A48 A483 A40 HEMPSTEAD CHELMSFORD A414 HARLOW destination and a designated UNESCO World Heritage site. OXFORD It is one of the UK’s top tourist destinations, famous for its HATFIELD A414 CIRENCESTER AMERSHAM M5 M25 architecture and attractions including the Roman Baths, TheA465 PONYTPOOL M40 A12 LLANELLI A420 M1 M25 Pump Room and Bath Abbey. The city attracts 6.28 million M25 NORTH A449 WATFORD A470 SEA tourist per annum (visitbath.co.uk). SWANSEA M48 M4 A433 BASILDON NEWPORT SWINDON SOUTHEND-ON-SEA The city has excellent road communications, situatedM4 SLOUGH A13 SWANSEA 8 miles south of the M4 motorway (Junction 18) and LONDON CITY M4 20 miles south east of the M5 motorway. CARDIFF READING HEATHROW BRISTOL A46 CHIPPENHAM LONDON MARGATE A2 ROCHESTER A346 M4 BRACKNELL Bath Spa railway station provides a regular M5 A38 NEWBURY A350 CARDIFF BATH M25 M20 connection to London Paddington with a journey CROYDON BRISTOL A33 M2 BRISTOL CHANN EL WESTON-SUPER-MARE M3 time of 1hr 21 min. Direct trains to Bristol Temple A36 A343 A3 A37 A338 Meads station also run at regular intervals with an BASINGSTOKE SEVENOAKS A24 MAIDSTONE approximate journey time of 18 minutes. A22 M20 GUILDFORD M23 A39 A361 A303 DOVER M5 A36 GATWICK Bristol International airport is 20 miles to the west of MINEHEAD A303 M3 ROYAL GLASTONBURY A3 TUNBRIDGE Bath, providing flights to a wide range of international A31 WELLS FOLKESTONE A22 BRIDGEWATER A361 SALISBURY A26 and domestic locations. A37 WINCHESTEWINCHESTERR BARNSTAPLE A23

extensiveTAUNTON and major A350 A36 A272 Catchment SOUTHAMPTON WELLINGTON tourist destination. YEOVIL A338 R SOUTHAMPTON V E M27 A3 (M) O A354 D O F Bath boasts outstanding demographics with over 120,000 NEWHAVEN I T T R A BRIGHTON S people living within a 15-minute drive of the city centre. Bath M5 EASTBOURNE A377 A354 has an above average representation of the most affluent AB A338 PORTSMOUTH social group, with 22% of households earning A386over £70,000+ per FISHBOURNE BOURNEMOUTH annum compared to the 13.5% UK average. PlacingA30 Bath within DORCHESTER POOLE EXETER EXETER ISLE OF WIGHT ENGLISH CHANN EL the UK’s most affluent catchments (Location Analyst UK).

LAUNCESTON WEYMOUTH Along with the extremely affluent resident A386catchment, Bath also EXMOUTH DARTMOOR A380 benefits from over 6.28 million tourist visits each yearNATIONAL with PARK a spend of £470m to the local economy in 2018. The large number A388 of tourists combined with resident shoppers can see daily footfallA38 TORQUAY reach up to 268,000 visitors per day at its peak A385 Estimated 6.28 million NEWQUAY(September 2019, Bath BID Report). PLYMOUTH DARTMOUTH day visitors in 2018.

PLYMOUTH

FALMOUTH ENGLISH CHANN EL Bath

Retailing in Bath

Bath is one of the UK’s leading retailing destinations. The variety and vibrancy of its retail offer along with the support of an affluent catchment, further boosted by the 6.28 million tourists that visit the city each year has made the city a very resilient retailing location.

Stall Street is a high footfall location being one of the main retail thoroughfares and for its proximity to major tourist attractions, central transport hub and Southgate Shopping Centre with Primark and Marks & Spencer as anchors.

Tenancy N

The entire property is let to Downspin Ltd t/a Kingdom of Sweets on a new 10-year full repairing and insuring lease expiring 25th February 2031. The current passing rent is £130,000 per annum. There is a landlord option to break the lease on the 15th January 2024 and 15th January 2026, the lease also falls outside the provisions of S.24-28 of the Landlord and Tenant Act 1954, facilitating any future repositioning of the upper parts.

This property generated good occupier interest and the lease was negotiated post COVID-19, highlighting the desirability and resilience of the location. Covenant

Kingdom of Sweets specialises in worldwide confectionary. Established in 2004 it has since become one of the largest confectionary retailers in the UK. The business has its own stores and a franchise system operating under a build your own business model, meaning each store operates as its own commercial entity.

Experian Goad Plan Created: 20/10/2020 50 metres Created By: GCW Copyright and confidentiality Experian, 2020. © Crown copyright and For more information on our products and services: database rights 2020. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 DRAWING NOTES

Do not scale from this drawing.

Any errors or omissions are to be reported to the Architect immediately.

All drawings are to be read in conjunction with the Structural Engineer's drawings and all related Architect's and other Consultant's information.

Description & Accommodation MOE

UP CH-3800 CH-3228 UP Bulkhead

DN The property is an attractive building, based over ground, first and To ground Flat Roof - No Access floor second floors. It also benefits from rear access via Swallow Street. CH-2680

The property is not listed and falls within the World Heritage Site. UP MOE

The property has been measured in accordance with the RICS Col.

Property Measurement (2nd Edition) and has the following Net DN

Staff Internal Areas: Room

WC DN WC WC WC +234

Sq ft Sq m +234 DN 234 CH-2692 CH-3200 UP

Lobby Area Ground Floor 1,355 125.69 Ladies WC

ITZA 854.4 beam

STORE SCALE BAR 1:50@A1 First Floor 948 88.07 0 1 2 3 4 5 METERS

Second Floor 780 72.46 Glazing Glazing ENTRANCE

EXISTING GROUND FLOOR PLAN EXISTING FIRST FLOOR PLAN EXISTING SECOND FLOOR PLAN MBH Design Studio Ltd. Rosemount House, Rosemount Avenue, West Byfleet, Surrey, KT14 6LB Total 3,083 286.22 SCALE 1:50@ A1 SCALE 1:50@ A1 SCALE 1:50@ A1 www.mbhltd.com t: 01932 352 727 f: 01932 351 545 CLIENT

PROJECT ANN SUMMERS 12 STALL STREET BATH BA1 1QE

DRAWING TITLE Asset Management EXISTING FLOOR PLANS

DRAWN BY DATE SCALE PAPER SIZE MAS 17.01.2020 1:50 A1

DRAWING NUMBER REV. CHECKED BY JN 13676-100 - The property presents an opportunity to extend and convert the upper parts into residential use. The existing lease has been structured with landlord break options to facilitate this opportunity.

Bath has a strong residential market that is driven by UK and international demand with capital values of +£500 per sqft being achieved. The city has a buoyant letting market, the property’s central location should lend itself well as either serviced apartments or conventional AST’s. Tenure

Freehold. This property is one of the only Freeholds on Stall Street, the majority of which are held LLH from the Council. EPC

The property has an EPC rating of E-118. VAT

The property is elected for VAT and as such it is anticipated that the sale will be treated by way of TOGC. Proposal

We are seeking offers in excess of £2,000,000 (Two Million Pounds), subject to contract and exclusive of VAT. A purchase at this price would equate to a net initial yield of 6.12%, allowing for purchaser’s costs of 6.28%.

Contact Details

For further information please contact:

Oli Horton T: 020 7647 4806 M: 07788 695 859 [email protected]

Caryl Howell 7-10 Chandos Street T: 020 7647 4827 London W1G 9DQ M: 07814 418 192 T: 020 7408 0030 [email protected] www.gcw.co.uk

Disclaimer - Whilst every effort has been made to ensure accuracy, no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No responsibility or warranty whatever is made or given either during negotiations or in particulars by vendor, lessor or the agent Gooch Cunliffe Whale LLP. Registered in England No. OC376010. Registered office: 30 City Road, London EC1Y 2AB.