Secure convenience store investment opportunity
Well-presented, recently extended and refurbished unit
Despite the lease start date, the property was modernised, extended and refurbished by Co-op and opened just 2.5 years ago
Provides a total of 4,453 sq ft
Freehold site of c 0.33 acres
Let to Co-operative Group Food Limited on assignment from Tesco Stores Limited
20 year FRI lease from 15 July 2014 expiring 14 July 2034
13.9 years to expiry (TBO 3.9 years)
Rent recently reviewed to £63,275 per annum (£14.20 psf)
5 yearly upward only RPI reviews (1% & 4% collar and cap)
Offers in excess of £1,087,000 (STC)
Representing a Net Initial Yield of 5.50% with further increases to 6.38% in July 2024 and 7.39% in July 2029, assuming RPI growth of 3% pa
