Investment Consideration:
Gross Initial Yield: 6.36%
Rental Income: £92,166 p.a.
VAT is applicable to this property. TOGC available.
Entire property Let to Bestway Retail Limited. Guarantor for lease is Bestway Wholesale Limited.
Let until October 2034 (No Breaks). Fixed rental increase to £104,277 p.a. in October 2029.
Comprises Texaco branded fuel filling station, convenience store and automatic car wash
Situated next to Frome Train Station, with occupiers nearby including B&M, B&Q, Lidl and more.
Property Description:
Comprises Texaco branded fuel filling station with 4x4 pumps, convenience store and automatic car wash on a plot of 0.55 acres, providing the following accommodation and dimensions:
Convenience Store: 220 sq m (2,368 sq ft)
Open plan retail, offices, storage, kitchen, wc
Tenancy:
The property is at present let to Bestway Retail Limited with guarantor as Bestway Wholesale Limited for a term of 20 years from 30th October 2014 at a current rent of £92,166.09* p.a. and the lease contains full repairing and insuring covenants. Fixed increase to £104,277.47 p.a. on 30.10.2029 until the remainder of the lease. No breaks.
* The current rent reserved is £81,460 p.a. which rises to £92,166.09 p.a. on the 30.10.2024, the vendor will "top up" the rent by way of allowance such that the purchaser in effect receives £92,166.09 p.a. from completion.
Location:
Frome is a town and civil parish in eastern Somerset, England and lies about 13 miles south of the City of Bath, with the market towns of both Westbury and Warminster sitting 6.5 miles to the East. The property is situated in the town centre next to Frome Train Station, with occupiers nearby including B&M, B&Q, Lidl and more.
