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Co-op Food, 2 Restaurants & 2 Flats, South Elmsall


POA
S.O.A.

Description

Basic Facts

Status: Available
Type: Various
Tenure: Freehold
Gross Rent: £ 34,760

Features

- £500k - £1m
- Asset management / development opportunity
- Blue-chip tenant
- Freehold
- No Break clauses
- No VAT applicable
- Residential element
- Whole Building

Property Description

* The property comprises a two storey building arranged as six retail units (4 trading as a Co-op Food) with two self contained two bedroom flats above with separate access from the rear.

Location Description

* South Elmsall is located about 6 miles south of Pontefract and 31 miles from Sheffield.
* The town is served well by the A1(M).
* The property is located close to the junction with High Street in a mixed retail and residential location, with the road’s bus stop located in front of the Co-op Food.
* Immediately opposite is the newly built Minsthorpe Leisure Centre which cost £5m to build in 2018, whilst the local primary school and a carehome a located within a few minutes’ walk.

Tenancy

* Unit 2 – Vacant Restaurant, rate-able value £10,000
* Unit 2 – Restaurant let to Nuray Altinkaya on a 5 year FRI lease from 18th August 2014 for £7,500 p.a
* Unit 3.4,5 & 6 – let to Co-Operative Group Ltd on a 10 year FRI lease from 29th September 2020 for £21,800 p.a with 5 yearly review.
* Unit 58a – Flat let to individual on AST for £5,460 p.a.
* Unit 62a – Vacant Flat, once renovated rate-able value is £5,000 p.a.
* Current total rent is £34,760, potential to rise to £49,760 p.a.

Categories

ShopsHigh Street Retail PropertyInvestment PropertyCommercial Investment PropertyDevelopment Land
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