Secure convenience store investment opportunity
Well presented, recently converted and refurbished c-store
Provides a total of 3,929 sq ft
Excellent location adjacent to two large schools and the nearby University of Reading campus
Freehold site of c 0.54 acres
Let to Tesco Stores Limited
20 year FRI lease from 8 August 2014 subject to TOB on 7 August 2029
14.8 years to expiry, 9.8 years to break
Initial rent of £84,814 per annum (£21.59 psf)
5 yearly upward only RPI reviews (0% & 4% collar and cap)
Offers in excess of £1,450,000 (STC)
Representing a Net Initial Yield of 5.51%
Estimated reversionary yield of 6.39% in August 2024 and 7.41% RY in August 2029
