Prime petrol filling station investment
Excellent location on the Newton Road, the arterial route to the A38 Devon Expressway and close to Heathfield Industrial Estate
Well-presented, recently extended and refurbished unit
The property is scheduled to be re-fit with new Co-op blue branding in 2020
3,562 sq ft (inclusive of car wash) with 4 pump stations providing 24 nozzles
Freehold site of c. 0.55 acres
Sale and leaseback to undoubted covenant of Co-operative Group Food Limited (D&B 5A1)
20 year FRI lease without break from completion of sale
Initial rent of £150,000 per annum (£42 psf)
5 yearly upward only CPI reviews (1 - 3% collar and cap)
Offers in excess of £2,430,000 (STC)
Representing a Net Initial Yield of 5.75%
Estimated reversionary yield of 6.66% in the 5th anniversary, 7.73% in 10th anniversary and 8.96% in the 15th anniversary
