Debenhams 19-26 North Street, Taunton TA1 1LL

Freehold - Prime Long Income Retail Investment

  • Taunton is an attractive county town located 49 miles south west of Bristol and 36 miles north east of Exeter and has a catchment population in excess of 340,000 people.
  • Situated in a prominent position on the west side of North Street close to the junction with The Bridge, and opposite St James Street.
  • A department store of 86,911 sq ft (8,074.3 sq m) arranged over lower ground, ground, first, second and third floors.
  • Let to Debenhams Retail Plc, expiring 24th March 2034 providing an unexpired term of circa 16.25 years.
  • The property benefits from minimum rental increases, next due in March 2019.
  • Topped-up rent of £763,594 per annum (£8.79 per sq ft).
  • Freehold.
  • Significant asset management opportunities on a break up including potential subdivision, reconfiguration and residential/hotel accommodation, subject to planning.
  • The vendor is seeking offers in excess of £11,920,000 (Eleven Million, Nine Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level will reflect a Net Initial Yield of 6.0%, after allowing for usual purchasers costs at 6.8%.

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Contact Details

Ryan Springer

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Office number: 0203 667 5050
Mobile number: 07932 792 531

Alexis Nicolas

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Office number: 0203 667 5050
Mobile number: 07932 708 881