TYPERetail, Retail - High Street, Other, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON4th March 2016
The property occupies a prominent corner position along the pedestrianised area of High Street, at the junction with John Street. Occupiers in close proximity include the Post Office, Poundworld, Specsavers and Greggs. The property is let to TUI UK Retail Limited trading as Thompson Travel on a full repairing and insuring lease for a term of 10 years from 25th March 2011. There is a tenant only break option and upward only rent review after five years. The passing rent is £28,750 per annum. Offers of £285,000 for the freehold interest. This provides a net initial yield of 9.63% assuming purchasers costs of 4.8%.