Roadside Retail Investment on new 15 Year Lease

Carpetright | 21-22 New Park Street | Devizes | SN10 1DX


subject to contract

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  • Attractive road-fronting retail investment

  • Let to Carpetright for 15 years

  • Rent increase at new letting to existing tenant

  • To be a new concept store “The Floor Room”

  • Tenant company acquired for £15.2m in 2020

  • Offers in excess of £625,000, subject to contract

  • 7.6% Net Initial Yield



Devizes is an historic market town in the centre of Wiltshire just north of Salisbury Plain, approximately 26 km (16 miles) north-west of Stonehenge, 23 km (14 miles) south-east of Chippenham and 19 km (12 miles) north-east of Trowbridge and 32 km (20 miles) east of Bath. The town benefits from good road communications, being located approximately (15 miles) south of Junction 17 of the M4 Motorway. Several main roads pass through the town including the A360, A361 and A342.

The Town centre has over 500 listed buildings, a frequent Gold winner of South West in Bloom and holds Coach Friendly Town status. Devizes is seen as the focal hub for surrounding villages and is an ideal base from which to explore the surrounding countryside.


The property occupies a highly prominent roadside position fronting the A361 (New Park Street) which is the main arterial road through the town, at its junction with Wharf Street.

The Wharf Street Car Park is immediately to the rear of the subject property ad provides 106 Pay & Display parking spaces. The surrounding area comprises a mixture of residential and commercial uses with nearby occupiers including Majestic Wine, Wiltshire Police and the popular visitor attraction, Wadworth Brewery.



The property comprises a ground floor retail unit which benefits from 5 demised parking spaces accessed via Wharf Street.

Internally, the unit provides a large open plan retail area with ancillary accommodation to the rear.

We are advised that the tenant will be re-fitting the property to a high standard as one of their new concept stores “The Floor Room” which provides a comprehensive premium brand, ‘boutique’ service offer. A launch document for this new concept is available to download.


The property has been measured by Foresight PM and provides the following Gross Internal Areas:

Ground Floor 300 sq m 3,229 sq ft

A copy of the measured survey is available to download.





The property is let to Carpetright Limited on a full repairing and insuring lease for a term of 15 years from 6th October 2022, expiring on 5th October 2037. There is a tenant’s break option on 6th October 2032, subject to six months’ prior notice.

The current passing rent is £50,000 per annum (£15.48 per sq ft / £167 per sq m overall). The lease benefits from five yearly upwards only rent reviews.

The tenant has been in occupation since 2008 and renewed their lease in October 2022, demonstrating their desire to remain in the property. The rent has increased from £40,000 per annum to £50,000 per annum. At the time of the lease renewal there was interest from other retailers including The Salvation Army and Pets Corner who offered £55,000 per annum.



Carpetright Limited (Co. No. 02294875) has reported the following figures:

Year Ending 31st October 2020 27th April 2019
Revenue £493.2 million £386.4 million
Pre-Tax Profits (Loss) (£64.3 million) (£24.8 million)
Total Assets £309.9 million £179.0 million

Established in 1988, Carpetright is a leading floor coverings and beds provider which has grown into an international retailer, operating in four European territories; the UK, Netherlands, Republic of Ireland and Belgium. Carpetright trade from over 400 stores and concessions in the UK and the rest of Europe with over 2,400 employees. For further information see

In 2018 Carpetright undertook a CVA (company voluntary arrangement) closing a number of unprofitable stores. In January 2020 Carpetright Limited (formerly Carpetright plc) was acquired by its biggest shareholder, Meditor Holdings Limited, in a deal that valued the retailer at £15.2 million.


The property is elected for VAT. We anticipate that the sale should be capable of being treated as a Transfer of Going Concern (TOGC).



We are instructed to seek offers in excess of £625,000 (Six Hundred and Twenty Five Thousand Pounds), subject to contract, reflecting a net initial yield of 7.6%, assuming standard purchaser’s costs of 5.12%.

Please note that a purchaser will be re-charged the costs of the searches (£1,464.00) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of 1% of the Purchase Price plus VAT.

Investment Considerations

  1. An opportunity to acquire an attractive roadside retail investment;

  2. Let on a new 15 year lease from October 2022;

  3. The tenant has been in occupation since 2008 and committed to a new lease with the rent increasing from £40,000pa to £50,000pa;

  4. Let to national retailer Carpetright, acquired for £15.2 million in 2020;

  5. The property to be fitted out as a new concept store “The Floor Room”;

  6. Situated in a prominent location fronting the A361;

  7. A purchase at the asking price reflects an attractive net initial yield;

  8. Attractive lot size for an investor.


Data Room and clicktopurchase®

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Contact Us

Singer Vielle   +44 (0) 207 935 7200
Dale Henry +44 (0) 203 701 1356
Daniel Elia +44 (0) 203 701 1353

Vendors Solicitor

Quastels +44 (0) 07891 854 456
Owen Walsh