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The property comprises a high yielding retail investment occupying a prime pedestrianised pitch and let to one of the UKs best known retailers.
Arranged across ground and first floors, the property is let to WH Smith on a lease expiring 25/07/2029 and paying £33,500 per annum. The tenant is a very long standing occupier, having been in occupation for 118 years. The tenant signed a new lease at a rebased rent in 2024, displaying continued confidence in the location.
The property occupies a prime pitch on the pedestrianised Leys Avenue and is adjacent to the Garden Square Shopping Centre. The street is characterised by a mix of local and national retailers including Holland & Barrett, Subway and Starbucks.
Tenure
Long Leasehold - Expires 28/12/2187 - Peppercorn Rent
Tenancy
The property is let to WH Smith Retail Holdings Limited on a five year lease expiring 25/07/2029 and paying £33,500 per annum.
The lease is on full repairing terms and includes a tenants break option in 2027.
The lease was renewed at a rebased rent in 2024 and the tenant has also been in occupation for over 100 years.
Rent