Sold

Bingley – Co-op Supermarket in the Heart of the Town

Co-op, 5Rise Shopping Centre, Bingley, BD16 1GL

Offers in excess of £2,585,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Leasehold
Net Initial Yield:
8.00%

Income

£220,000 per annum

Description

  • Opportunity to acquire a supermarket forming part of 5 Rise Shopping Centre.
  • Bingley is a popular market town in West Yorkshire, 15 miles west of Leeds.
  • Supermarket totalling 15,349 sq ft arranged over ground floor and basement.
  • Situated within the dominant retail offering in town, moments away from Bingley Train Station.
  • Let to Co-Operative Group Limited with 7.7 years unexpired years unexpired, guaranteed by Co-Operative Group Limited.
    Producing a current rental income of £220,000 per annum (£14.33 per sq ft).
  • Virtual Freehold – 999 year lease.
  • The vendor is seeking offers in excess of £2,585,000 subject to contract and exclusive of VAT. Based on this level of pricing, the net initial yield reflects 8.00%, assuming standard purchasers costs.