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    Key features

    • To be offered on Wednesday 23 July
    • High Yielding Convenience Store Investment
    • Retail Unit with Upper Parts Sold Long Leasehold
    • Let to One Stop Stores Limited
    • 10 Year Lease Expiring 13.12.2026
    • 2,300 sq ft (213.7 sq m)
    • Asset Management Potential
    • Forms Part of a Popular Local Parade
    • Rent Reflects a Low £11.30 per sq ft
    • Nearby Units Let for £15-£19 per sq ft
    • Investment Let at £26,000 p.a. (9.6% GIY on Guide Price)

    Description

    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.

    Additional information

    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


    • D&B Rating - 5A2
    • Turnover (2024) - £1.297 bn
    • Pre Tax Profit (2024) - £22m

    Rent

    £26,000 per annum
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      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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