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The property comprises a high yielding retail investment let to a national charity on a recently renewed lease and occupying a prominent pedestrianised pitch.
Arranged across ground floor only, the property is fully let to the Air Ambulance Service on a recently renewed five year lease expiring 07.08.2029 and paying £11,000 per annum. The tenant is a long standing occupier of 10+ years with their recent renewal displaying confidence in the location.
The property occupies a prominent pitch fronting the pedestrianised Institute Lane the principal retail amenity for the area. Nearby occupiers include Specsavers, Home Bargains, Boots and Greggs.
Tenure
Long Leasehold - 999 Years from 20.07.2012 - Peppercorn Rent
Tenancy
The property is let to the Air Ambulance Service on a recently renewed five year lease expiring 07.08.2029 and paying £11,000 per annum.
The lease is on full repairing and insuring terms, the current contracted rent is £10,000 per annum however the lease includes a fixed uplift to £11,000 from August 2026. The Vendor will therefore "top up" the rent to this level from completion. The lease includes a tenants break option in August 2026.
The tenant is a long standing occupier of 10+ years with their recent renewal displaying confidence in the location.
Rent
Notes
We understand the property is elected for VAT.