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For Sale£1,200,000.00

Water Street, Penygroes, Gwynedd LL54 6LR

Retail - Out of Town, Retail , 3700 Sq Ft
Property type: Retail - Out of Town, Retail
Tenure: Investment Opportunity, For Sale Freehold
Size: 3700 Sq Ft
Price: £1,200,000.00
Location: Co-operative Convenience Store, Water Street, Penygroes, Penygroes, LL54 6LR
Penygroes is located in North West Wales on the edge of Snowdonia National Park, south of Caernarfon Town and 13 miles north of Porthmadog. Penygroes is strategically located on the A487 which provides access to a wide surrounding catchment including the tourist areas along the Llyn Peninsula. The property occupies a prominent position with extensive frontage to Water Street approximately 350 yards to the south of the town centre.  A new single storey convenience store purpose built to the specification of Co-op. The property is of steel frame construction with Trespa and coloured render elevations. The property benefits from a dedicated front delivery area and 11 dedicated customer car parking spaces. The entire property is let to Co-operative Group Food Limited with a guarantee from Co-operative Group Limited for a term of 15 years from completion of the development, without breaks, on a Full Repairing and Insuring Lease at a commencing rental of £70,000pax. The lease provides for the rent to be revised every 5 years on an upward only basis in line with CPI, subject to a minimum annually compounded increase of 1% and maximum of 4% per annum.
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