ADDRESSKiosk Unit, Grove Street, Retford, Nottinghamshire, DN22 6LJ
TYPERetail - High Street, Retail
TENUREFor Sale Freehold
POSTED ON7th September 2021
The opportunity to purchase an affordable commercial investment held on a 6 year lease, located in a popular market town. The investment will suit experienced investors as well as first time commercial buyers.
- Well located lock up retail premises - Recently refurbished to a good standard - Let to a well established local dog grooming business on a 6 year lease from 9th July 2018 - Let at £5,200 per annum exclusive - Full repairing and insuring lease - Outstanding upwards only rent review dated from 9th July 2020 - Circa 3 years remaining - 3 months rent deposit held by the landlord - Tenant has traded well despite lockdown - Suit first time commercial investors - easy to manage
INVESTMENT PROPOSAL Seeking offers in the region of £60,000
Reflecting an attractive yield of 8.67% Potential reversionary to circa 10% yield following a rent review to ERV of £6,000 pax.