18 High Street, Westbury, Wiltshire

Description

Freehold shop and residential ground rent investment. Located in an established parade in the heart of the town centre. Gross initial yield 12%. VAT is not applicable.

Location

Westbury is situated 16 miles south-east of Bath and 27 miles north-west of Salisbury in an attractive area of West Wiltshire adjoining Salisbury Plain. The town is located on the A305, with the A4 to the north and the A303 to the south. Westbury Rail Station provides regular train services to London Paddington and Waterloo. The property is situated on the northern side of the High Street. Nearby occupiers include Boots, Sue Ryder, Londis and Ladbrokes.

Tenure / Property Information

Investment Analysis

The £100,000+ guide is the only current pricing evidence. The supplied 12% gross initial yield implies approximately £12,000 annual income if calculated against £100,000, but the actual rent, lease terms, review provisions, residential ground rent and purchaser costs are not provided. Land Registry comparables are historic and described only as 'Other' or flat/maisonette, so they do not establish a reliable current market value for this specific mixed-income freehold. No supported GDV or maximum bid can therefore be calculated.

Investment Snapshot

Strategy Recommendation

Consider only as an income investment subject to confirmation of the shop lease renewal, passing income, residential ground rent and all lease obligations. Do not bid on a flip or BRRR basis without further valuation and legal evidence.

Works Required

No refurbishment works are evidenced. The investment is described as let, with the shop subject to a lease renewal to Parsons Bakery Limited. Allow for legal and lease-review due diligence rather than assumed physical works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence. There is no supported current GDV, refurbishment budget, finance cost, confirmed rent or refinance valuation. The property is already described as let, so the principal potential is income investment rather than a refurbishment-led refinance.

Buy-to-Let Analysis

The stated 12% gross initial yield is attractive on the guide-price basis and implies approximately £12,000 per annum at £100,000. However, this is an auctioneer-supplied estimate rather than confirmed passing rent. The shop lease renewal terms, residential ground rent, lease expiry, reviews, operating costs, void risk and tenant covenant require verification. Net yield cannot be established.

Flip Analysis

No credible flip surplus can be calculated. The property is an income-producing commercial/residential ground rent investment, no refurbishment scope or resale GDV is provided, and no selling-cost allowance is supplied. The historic comparables are insufficiently specific and dated.

Investor Risks & Due Diligence

• The stated 12% yield is an auctioneer estimate and may not represent passing income.

• Shop lease renewal terms and expiry are not provided.

• Parsons Bakery Limited tenant covenant and lease obligations require due diligence.

• The residential ground rent income and underlying lease details are not provided.

• Actual operating costs, repairs, insurance, void exposure and legal costs are unknown.

• Historic comparables are limited, dated and not sufficiently specific for a reliable current valuation.

• Additional seller or third-party charges may apply, although no amounts are supplied.

Recommendation

Consider only as an income investment subject to confirmation of the shop lease renewal, passing income, residential ground rent and all lease obligations. Do not bid on a flip or BRRR basis without further valuation and legal evidence.

Strategy Rating

Analysis Confidence

The guide, tenure, occupancy, stated yield, tenant identity and historic comparables are supplied, but actual rents, lease terms, residential ground rent, costs, condition, EPC and current valuation evidence are absent.