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40-41 St. Peters Hl 2,618 sq ft Retail Property Grantham £350,000 (£133.69/sq ft) 8% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Market and industrial town
- Established retail occupiers nearby
- Great transport links
EXECUTIVE SUMMARY
Comprises two-storey retail premises t/a Savers. The property benefits from rear exit and provides the following accommodation and dimensions: Ground Floor: Open plan retail, storage, ancillary. First Floor: Office, staff rooms, kitchen, storage, wc.
The property is at present let to Savers Health and Beauty Limited* for a term of 5 Years from 23rd June 2023 at a current rent of £28,000 p.a. and the lease contains full repairing and insuring covenants. Tenant break option in 2026 NOT exercised. Tenant benefits from 3 months rent free in exchange for not exercising the 2026 break clause. The rent-free is for the period 24.06.26 to 28.09.26. The vendor would top up rent (~£7,350) so the buyer receives the equivalent to £28,000 p.a. from sale completion Tenant in occupation for 20+ years.
*For the year end December 2023, Savers Health and Beauty Ltd reported a turnover of £754,8M, pre-tax profit of £61,2M, shareholders funds of £142,1M and a net worth of £66,5M. (Source: Experian)
The property is at present let to Savers Health and Beauty Limited* for a term of 5 Years from 23rd June 2023 at a current rent of £28,000 p.a. and the lease contains full repairing and insuring covenants. Tenant break option in 2026 NOT exercised. Tenant benefits from 3 months rent free in exchange for not exercising the 2026 break clause. The rent-free is for the period 24.06.26 to 28.09.26. The vendor would top up rent (~£7,350) so the buyer receives the equivalent to £28,000 p.a. from sale completion Tenant in occupation for 20+ years.
*For the year end December 2023, Savers Health and Beauty Ltd reported a turnover of £754,8M, pre-tax profit of £61,2M, shareholders funds of £142,1M and a net worth of £66,5M. (Source: Experian)
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
2,618 sq ft
Costar Property Class
B
Year Built
1990
Price
£350,000
Price per sq ft
£133.69
Yield
8%
NOI
£28,000
Tenancy
Single
Number of Floors
2
Plot ratio
1.14
Total Plot Size
0.05 ac
Frontage
22 ft on Saint Peter's Hill
AMENITIES
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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STREET VIEW
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40-41 St. Peters Hl
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