Area: 1050 sq ft
Gross Rent: £ 20,603
Gross Yield %: 6.1
Lease Term: 16.5 years from Nov '16
VAT applicable: No
- Attractive property
- Blue-chip tenant
- Finance available
- Lease term > 15 years
- Lock Up investment
- Minimum Rental Uplifts
- No Break clauses
- No VAT applicable
- Under £500k
* Freehold, Blue-Chip Convenience Store Investment.
* The property is arranged on a ground floor shop level with a cellar and separate rear access to a self-contained upper part residential accommodation at first and second floor level. The upper floors have been sold off.
* The site extends a total of 1,020 sq ft.
* The property is Grade II Listed
* The property is situated in the heart of this historic market town between West Street and East Street, opposite a public car park.
* Close-by occupiers include Lloyds Bank and a Post office, also a host of established local traders.
* Alford lies on the main A1104 some 7 miles south or Mablethorpe and 30 miles east of Lincoln, enjoying easy access to the A16 Trunk Road and the main A158 which links to the A46 and the A1(M).
Tenancy & Accommodation
* The property is let to Martin McColl Limited for a term of 16.5 years from November 2016 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout.
* The passing rent is £20,603 p.a.
* The next rent review will be on 24th May 2023 to £22,747 and thereafter will be 5 yearly.