1 Drakes Way, Broad Street, Lyme Regis Image 1
1 Drakes Way, Broad Street, Lyme Regis Image 2
1 Drakes Way, Broad Street, Lyme Regis Image 3

1 Drakes Way, Broad Street, Lyme Regis
Let agreed

£9,500 pa


To Let: £9,500 p.a. Ingoing: £9,500.

Martin Diplock Chartered Surveyors & Estate Agents - Commercial Property

A charming lock up shop forming part of an established retail enclave in Lyme Regis, moments away from the main shopping street and seafront.

The premises are available to let as a vacant shop.

Lyme Regis is a thriving and picturesque coastal town noted for its unspoilt character, charming seafront and the famous centuries old Cobb Harbour. An increasing number of visitors are attracted to the town each year, both in the peak Summer season and throughout the remainder of the year. Regular visitors also include day-trippers from elsewhere in East Devon and West Dorset, and also numerous holiday home owners who come here to escape the 'rat race' and enjoy the uniqueness of Lyme, its spectacular coastal scenery and lovely surrounding countryside.

The town is situated on the beautiful and unspoilt Devon and Dorset 'Jurassic Coast' awarded World Heritage Site status by UNESCO in December 2001.

THE SHOP
Lock up shop premises comprising:

Ground Floor Retail Area
16'2 x 12'10 (4.92m x 3.91m) overall
With half glazed door and attractive small paned display bay window. 'Vintage' style interior with part timber cladding, timber flooring, recess with shelving, stairs to first floor.

First Floor Retail Area
13'6 x 7'4 (4.11m x 2.24m) (excluding stairwell and WC)
Velux roof light and front window. Stainless steel sink and WC off.

THE LOCATION
Drakes Way is a picturesque and bustling small retail precinct of character properties located off the town's main shopping street (Broad Street) about 150 metres from the beach and seafront. It is also a busy thoroughfare through to a walkway and footbridge over the River Lim linking Bridge Street and the Town Mill/Old Town.

THE LEASE
We understand that the landlord will grant a new 7 year lease to the purchaser. It will be on full repairing and insuring terms with 3 year rent reviews at a rental of £9,500 per annum. It will be 'opted out' of the security of tenure provisions of the 1954 Act.
In addition, the tenant will be required to pay the Annual Licence Fee to Dorset Council for the use of Broad Street Car Park as an Emergency Access from Drakes Way. We understand that this fee is currently £501.47 (as at January 2022) but it does increase by RPI at regular reviews. Further information is available on request.
The tenant is responsible for the landlords legal costs for preparation of the new lease.
Ingoing: £9,500.

RATEABLE VALUE
Rateable Value: £4,450
Note: with current reliefs available the present tenant is not liable to pay rates for these premises. Applicants should make enquiries of the Local Authority to ascertain if they would qualify for 100% relief.

DIRECTIONS
From our offices continue down Broad Street towards the seafront, turn left into Drakes Way (just past the Indian restaurant) and the shop is the first on the right.

VIEWING
Strictly by appointment with the vendor's agents, Martin Diplock Estate Agents and Valuers, 36 Broad Street, Lyme Regis on (01297) 445500.

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