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INVESTMENT HIGHLIGHTS
- High Yielding Mixed-Use Retail/Residential opportunity.
- Let to Morrisons Daily.
- 2023 Break option not exercised.
- In the Same ownership for approximately 17 years.
- VAT-free investment.
- Retail Unit and Two Bedroom Self-contained flat.
- 10 year lease expiring 31.03.2028.
- Asset Management Potential.
- Prominent central pitch.
- Investment let at Investment let at £16,750 p.a. (9.85% GIY on Guide Price)£16,750 p.a. (9.85% GIY on Guide Price).
EXECUTIVE SUMMARY
A Two Storey end of terrace building Arranged as a ground floor shop unit with residential upper parts The whole property is let on a single lease to Alliance Property Holdings Limited (t/a Morrisons Daily) on a 10 year lease expiring 31.03.2028 and producing £16,750 per annum. We understand the 2023 rent review is outstanding, offering immediate asset management potential, whilst the tenant also did not serve their 2023 break option, displaying confidence in the location.
PROPERTY FACTS Under Offer
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
Co-op is the UK’s fifth biggest food retailer, with more than 2,500 local, convenience and medium-sized stores. They are also the UK’s number 1 funeral services provider, a major general insurer, and a growing legal services business. As well as having clear financial and operational objectives and employing nearly 70,000 people, they are a recognised leader for their social goals and community-led programmes. They exist to meet members' needs and stand up for the things they believe in.
Morrisons has grown from a Bradford market stall to one of the UK's largest supermarket chain. They are proud to be a Yorkshire food retailer serving customers across the UK through their network of conveniently located supermarkets and various online home delivery channels. Their business is predominantly food and grocery focused and uniquely, they source and process half of the fresh food that they sell in their own manufacturing facilities and stores which gives them close control over provenance and quality. Their committed and professionally trained food makers and shopkeepers prepare food in-store for customers and they have more skilled colleagues preparing food in store than any other retailer. Every week around customers pass through the doors and colleagues across the business work hard each day to deliver great service to them.
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
|
- | 1,335 sq ft | - | - | ||
|
- | 1,335 sq ft | - | - |
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1 Station Rd
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