New build neighbourhood convenience store in a residential/tourist area
Prominently situated on large corner site in the primary retail pitch
Purpose built Co-op convenience store developed to replace smaller, over-trading store
Total gross internal area of 4,390 sq ft
Sale and leaseback to the Co-operative Group Food Limited on a new 15-year full repairing and insuring lease without breaks from completion of the sale
Initial rent of £55,000 per annum (£12.53 psf)
5 yearly rent reviews in line with CPI (collared and capped at 1–3%)
Freehold
Offers in excess of £897,000 (STC)
Representing a Net Initial Yield of 5.75%
Estimated reversionary yield of 6.67% in the 5th anniversary
