Prime retail investment opportunity for sale in Melksham

This property is marketed by:
Colliers

Investment opportunity

Melksham is an historic market town situated on the River Avon in Western Wiltshire, 12 miles south east of Bath.

Melksham has an affluent demographic profile with over half the population in the two highest social groups, and over half the population are retired.

Ground and first floor detached foodstore comprising 18,996 sq ft (1,764.8 sq m).

Property benefits from large car park of 136 spaces, providing an excellent parking ratio of 1 space : 139 sq ft.

The supermarket is let on a reversionary lease to Waitrose Limited for a term of 10 years expiring on 22 April 2035.

There is a tenant only break option in Year 5.

The rent was recently rebased to £160,000 per annum subject to a fixed uplift in year 5 to £170,000 per annum.

Waitrose Limited offers excellent covenant strength.

Freehold.

Long term value add/development potential.

Description:

It comprises a detached purpose built food store totaling 18,996 sq ft GIA with a covered loading and 136 space customer car park providing a very good ratio of 1 car space : 139 sq ft. The property sits on a large site area of 2.3 acres (0.9 hectares).

The property is arranged over ground and first floors and provides for click and collect. Customer car park and secure service yard are both accessed from Bath Road. Prime South West food store investment opportunity with fixed rental uplift.

Location

Melksham is an historic market town situated on the River Avon in Western Wiltshire, 12 miles (19 km) south east of Bath, 7 miles (11 km) south of Chippenham and 6 miles (10 km) northeast of Trowbridge.

The town is in close proximity to the Wiltshire countryside with a wide retail provision including national covenants and independent shops, cafes and pubs.

The town benefits from strong road communications due to its location on the A350, which runs north to Junction 17 of the M4 Motorway (10 miles) and south to Poole (57 miles). Regular bus services connect it to Bath, Trowbridge, and Devizes. 

Melksham railway station is situated on the TransWilts Line, connecting Swindon to Westbury via Chippenham and Trowbridge. Melksham is accessible from London with a transfer, typically at Swindon or Chippenham.

The fastest services taking about 1 hour and 20 minutes.

Travel by air is easily facilitated from Bristol Airport, approximately 1 hour by car (around 30 miles).