• Secure convenience store investment opportunity
• Well-presented, recently extended and refurbished unit
• Provides a total of 5,802 sq ft
• Freehold site of c 0.53 acres
• Let to Co-operative Group Food Limited (D&B 5A1) on assignment from Tesco Stores Limited (D&B 5A1)
• 20-year FRI lease from 7th March 2014, expiring 6th March 2034 (14.1 years unexpired)
• Tenant break option on 7th March 2024 (6 months notice)
• Low rent of £47,089 per annum (£10.30 psf)
• 5 yearly upward only RPI reviews (0% & 4% collar and cap)
• Offers in excess of £810,000 (STC)
• 5.50% Net Initial Yield
• Further increases to 6.39% in March 2024 and 7.41% on 11 November 2029 (*assuming 3% RPI growth)
• Low capital value of only £140 psf
• Purchase underwritten by residential conversion/site value
