Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding mixed use investment opportunity let to the established covenant of Morrisons Daily and occupying a pitch within a popular local parade.
Arranged as a ground floor retail unit with a single residential unit across the first and second floors (understood to be three bedrooms) and including a separate rear garage, the property is let in its entirety to Alliance Property Holdings Limited (t/a Morrisons Daily). The lease is for a term of 10 years expiring 29/01/2028 and paying a rent of £10,000 per annum. The property offers asset management potential via the outstanding rent review from January 2023.
The property forms part of a popular mixed use parade, with a mix of local and national retailers including SPAR. The tenant has a lease over the adjacent property and has combined the units to provide a single retail space, however the adjacent property is not included in the sale. The property also includes a post office and Costa Coffee concession.
Tenure
Leasehold - 2000 Years from 24/06/1989 at Peppercorn Rent
Tenancy
The property is let in its entirety to Alliance Property Holdings Limited (t/a Morrisons Daily). The tenant was formerly McColl's but was purchased and is now part of the Morrisons group of companies. The lease is for a term of 10 years expiring 29/01/2028 and paying a rent of £10,000 per annum. The lease is on full repairing and insuring terms and has an outstanding rent review from January 2023.
The tenant has a lease over the adjacent property and has combined the units to provide a single retail space. The adjacent property is not included in the sale.
Alliance Property Holdings Limited
Alliance Property Holdings is the holding company for the former 1,100 convenience stores purchased by the Morrisons Group of companies.
Rent