7 The Bridge, Chippenham, Wiltshire

Description

A freehold mid terraced High Street commercial building with accommodation arranged over two floors including a basement and loft space. There is pedestrian access to the rear. Sold subject to existing tenants. Residential development on the upper floors may be possible subject to gaining the necessary consents.

Accommodation

980 sq ft arranged over two floors, including a basement; loft space is not included in the square footage. Pedestrian access to the rear.

Location

The market town of Chippenham has shopping facilities, cafes and restaurants. The train station is a 10 minute walk, with main line rail services to Paddington in 75 minutes and Bath in a 15 minute train journey. The M4 motorway (J17) is 5 miles away.

Tenure / Property Information

Investment Analysis

The £140,000+ guide is not supported by a current comparable valuation. The only supplied sale comparable is 5 The Bridge at £351,750 in December 2013, which is historic and lacks directly comparable current evidence. The building is occupied, but passing rent and lease terms are not supplied. The two Chippenham rental listings are advertised asking rents for unspecified properties and cannot reliably establish this property's rent or value. Residential development is only a possibility subject to necessary consents.

Investment Snapshot

Strategy Recommendation

Treat as a hold-and-renew commercial investment only if the existing lease, rent and covenant are satisfactory. Do not bid on the supplied evidence alone; obtain the occupational documents, current valuation and legal/planning due diligence first.

Works Required

No physical defects or refurbishment requirements are evidenced, so no works allowance can be supported. Investigate the existing commercial accommodation, basement and loft, and assess any proposed upper-floor residential conversion only through the necessary planning, building-control and other consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be completed because there is no supported current value, passing rent, refurbishment budget or refinance valuation. The tenant's stated willingness to extend is not a binding renewal and the tenancy expires in February 2027.

Buy-to-Let Analysis

This is a commercial investment rather than a supported residential BTL opportunity. The passing rent, lease rent, repairing obligations, service charge and other occupational terms are not supplied. The advertised Chippenham rents cannot be treated as achieved rent for this property, so yield cannot be established.

Flip Analysis

A flip analysis cannot be completed reliably. No current GDV, supported residential conversion scheme, consent, works budget or selling-cost allowance is provided. The 2013 comparable is insufficient evidence for a current resale value.

Investor Risks & Due Diligence

• Tenancy expires in February 2027 and tenant willingness to extend is not binding.

• Passing rent and detailed existing lease terms are not supplied.

• The two rental listings are advertised asking rents and may not be comparable to this 980 sq ft building.

• EPC is marked TBC.

• Residential development on the upper floors is only a possibility subject to necessary consents.

• The basement and loft are described, but their condition, usability and legal status are not evidenced.

• The £1,800 inc VAT buyer premium is payable on exchange and must be included in acquisition budgeting.

Recommendation

Treat as a hold-and-renew commercial investment only if the existing lease, rent and covenant are satisfactory. Do not bid on the supplied evidence alone; obtain the occupational documents, current valuation and legal/planning due diligence first.

Strategy Rating

Analysis Confidence

The property description and tenure are supplied, but current market value, passing rent, lease economics, condition, EPC, development consent and project costs are missing. The only sale comparable is historic and the rental evidence is asking-rent data for unspecified properties.