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AGENT'S DETAILS


INVESTMENT FOR SALE - 55-57 Front Street, Prudhoe, Northumberland, NE42 5AA

For sale: POA|1453 - 2563 Sq Ft|Retail

PROPERTY DETAILS

FOR SALEPOA
SIZE1453 - 2563 Sq Ft
ADDRESSGreggs, 55 Front Street, Prudhoe, Northumberland, NE42 5AA
TYPERetail
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON14th August 2020

DESCRIPTION

Greggs plc - new 10 year lease from 16th November 2017 at a rent of £16,250 per annum. The lease expires on 15th November 2027 and there is a tenant only break on 15th November 2022.

Gloria’s Italian Restaurant - 7 year lease from 22nd June 2016 at the passing rent of £20,000 per annum. The tenant break on 21st June 2018 was not exercised.

Total rent is therefore £36,250 per annum.

Greggs Plc - Experian Credit Risk Score: “Very Low Risk” (20/12/2017) Total Turnover: £960,005,000 & Pre-Tax Profits: £71,945,000

Offers in excess of £465,000 are invited for the freehold interest in the property. A sale at this level reflects a net initial yield of 7.46% allowing for purchasers costs of 4.54%.

LOCATION

Location: Greggs, 55 Front Street, Prudhoe, Northumberland, NE42 5AA

Prudhoe (0.7 miles)

Wylam (1.6 miles)

Stocksfield (2.8 miles)

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