Investment Summary

A.F. Blakemore & Sons Limited, Bala Road, Dollgellau LL40 2YE

  • The property comprises a petrol filling station and car showroom with workshop facilities
  • Extends to 16,432 sq ft on a site of 0.352 ha (0.87 acre) with 46 car parking spaces
  • Superb underlying trading performance
  • Freehold
  • Let to A.F. Blakemore & Son Ltd (D&B Rating: 5A1) with an annual turnover of circa £1.3bn
  • A new 20-year FRI lease (Schedule of Condition) at an initial ground rent of just £55,000 per annum
  • Blakemore undertaking a full refurbishment of the PFS, hence ground rent style income
  • Five yearly Retail Price Index (RPI) rent review subject to a collar and cap of 1% and 3% pa
  • Instructed to seek offers in excess of £950,000 (STC)
  • Reflecting a 5.48% NIY
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