Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding convenience store investment let to the established covenant of OneStop.
Arranged across ground, first and second floors, the property comprises a double fronted retail unit to the ground floor with the upper parts comprising residential accommodation (sold off on a long leasehold basis).
The ground floor is let to One Stop Stores Limited on a 10 year lease expiring 13.12.2026 and paying £26,000 per annum.
We consider the property offers evident asset management potential via improvement of rent upon lease expiry, with the current passing rent reflecting a low £11.30 per sq ft. Nearby units on North Lane have recently let in the range of £15-£19 per sq ft.
The property forms part of a popular local parade and comprises some of the principal local grocery amenity for the surrounding residential area, with the nearest major supermarket some 0.7 miles from the property.
Tenure
Freehold
Tenancy
The ground floor is let to One Stop Stores Limited on a 10 year lease expiring 13.12.2026 and paying £26,000 per annum.
The lease is on full repairing and insuring terms, the tenant elected not to exercise their break option in the 5th year of the lease displaying confidence in the location.
One Stop Stores Limited
Rent