Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment opportunity let to a committed tenant with RPI liked reviews.
Arranged across ground floor only, the property is let to a private individual t/a Cloud Town Convenience Store on a seven year lease expiring 19.12.2030 and paying £10,473.75 per annum.
The tenant did not exercise their 2025 break option, displaying confidence in the location. The lease also includes an index linked rent review in 2027. The review is linked to RPI with a "cap and collar" of 5% and 8%.
The property forms part of a popular local parade in Middlewich fronting Wheelock Street, the principal amenity for the town. The street is characterised by a number of local and national retail/leisure occupiers including Lidl, Home Bargains and Tesco.
Tenure
Leasehold - New 999 Year Lease - Peppercorn Rent
Tenancy
The property is let to a private individual t/a Cloud Town Convenience Store on a seven year lease expiring 19.12.2030 and paying £10,473.75 per annum.
The tenant did not exercise their 2025 break option, displaying confidence in the location.
The lease includes an index linked rent review in 2027. The review is linked to RPI with a "cap and collar" of 5% and 8%.
The lease is on effective FRI terms via Service Charge and we understand a deposit of £2,850 is held.
Rent
Notes
Joint Auctioneer
Joseph Bachman
07723 619 270
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).