Prominent single let supermarket / retail warehouse investment
Located in Abergele, an attractive tourist town situated on the North Wales coast
Adjacent to the town's railway station and immediately behind the main beach
The property extends to 14,084 sq ft (GIA) on a large site of 1.4 acres
Low site cover just 26%
Valuable Open A1 (Food) planning consent
Let to The Factory Shop Limited (Cat A CVA Store)
15-year FRI lease expiring 9th April 2027 (7.9 years unexpired)
Passing rent of £79,198 per annum (£5.62 psf)
Re-based rent down from £226,595 per annum
Fixed uplift to £89,605 per annum (£6.36 psf ) from 10th April 2022
Freehold
Re-development potential for higher value alternative uses (STP)
Our client is seeking offers in excess of £750,000 (STC)
10.01% Net Initial Yield, and a Reversionary Yield of 11.34% in 2022
Low capital value of just £53 psf
