Freehold convenience store investment for sale, currently let to the UK’s largest retailer, Tesco
The property comprises a three storey mid terraced building with painted rendered elevations beneath a pitched slate roof.
Bedale is a market town located in the county of Yorkshire, 27 miles (43 kilometres) north of Harrogate, 36 miles south west of Middlesbrough and 38 miles (60 kilometres) north of York. The property is well connected by road with Junction 51 of the A1(M) located 1.5 miles to the north providing access to Darlington to the north and Leeds to the south. The property is situated fronting Market Place, the main thoroughfare of the town adjacent to a number of national and local commercial occupiers including Costa Coffee, Barclays Bank and William Hill.
The property is Grade II Listed and is situated within the Bedale Conservation Area.
The entire property is let on a 20 year lease to Tesco Stores Limited (Company Number 00519500) expiring on 10 December 2032 at a current rent of £54,925 per annum subject to five yearly annually compounded rent reviews with a cap of 4% and collar of 0%. The lease provides a tenant break option on the 10th anniversary of the lease subject to not less than 6 months’ notice. The tenant has a full repairing obligation which is subject to a schedule of condition.
We are instructed to invite offers in excess of £650,000 with a sale at this level reflecting 8.0% NIY, assuming the usual purchasers costs.
Money Laundering Regulations
Money laundering regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.
Northallerton (6.8 miles)
Thirsk (9.9 miles)