5th May 2016

St John Ambulance premises in Weston-super-Mare sold by auction

Acting on behalf of St John Ambulance, property consultants Alder King have sold the freehold of a retail and D1 property in Weston-super-Mare to a private investor.  The three-storey terraced premises at 41/43 Oxford Street in the town centre were sold at auction by Allsop for an undisclosed sum.

The property includes a 1,797 sq ft retail unit, occupied on a short-term lease by Nat West Bank at an annual rent of £15,500, and 3,838 sq ft of D1 accommodation at the rear, including a meeting hall, offices and a garage. 

The purchaser plans to refurbish and retain the property as part of an investment portfolio and has subsequently agreed new lease terms with Nat West Bank.

Tom Dugay, senior surveyor at Alder King, said: “Located in the heart of Weston, close to the Dolphin Square retail development which is due to open in summer 2017, this property has great potential for a range of uses, subject to planning.  With the retail unit let to a strong covenant and generating a rental income, this was a sound investment.”

Alder King is the retained agent for St John Ambulance across the South West and South Wales.  The charity, which owns a portfolio of over 500 properties across the UK, is disposing of some of its smaller property assets to invest in new premises capable of holding larger first aid and health and safety training courses.