• Secure convenience store investment opportunity
• Well-presented, recently extended and refurbished unit
• Co-op entered into the lease in 2014 with full planning risk, received permission in 2017 and opened in 2018
• Co-op closed their two other sites in the town amalgamating into this unit together with the Post Office
• Provides a total of 6,951 sq ft
• Freehold site of c 0.4 acres
• Let to Co-operative Group Food Limited with surety from Co-operative Group Limited
• 15 year FRI lease from 22 September 2014 expiring 21 September 2029 but with an option to renew for a further 15 years
• 9.6 years to expiry
• Low initial rent, £86,261 per annum (£12.41 psf)
• 5 yearly upward only RPI reviews (1% & 4%collar and cap)
• Offers in excess of £1,550,000 (STC)
• Representing a Net Initial Yield of 5.24%with a further increase to 6.08% in September 2024 assuming RPI growth of 3% pa.
