Sold

Bridgend – Forecourt & Convenience Store Investment

Applegreen, Tremains Road, Bridgend, South Wales, CF31 1TZ

Offers in excess of £1,490,000

Property Type:
Commercial
Sub Types:
Retail, Alternative
Tenure:
Freehold
Net Initial Yield:
6.75%

Income

£106,533 pa

Description

  • Prominently located on the busy Tremains Road in the commuter town of town of Bridgend.
  • The unit comprises of a total of 148.3 sq m (1,596 sq ft) of well configured retail accommodation.
  • Let to the covenant of Rochpion Properties (4) LLP, (t/a Applegreen) guaranteed by the excellent covenant of Co-Operative Group Limited (5A1) with a further 8 years to expiry.
  • No Breaks.
  • Current rent passing of £106,533 pa subject to fixed annual increases of 2%.
  • Retail Spend of £710,000.
  • Site Area of 0.45 acres.
  • Freehold.
  • Offers sought in excess of £1,490,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 6.75% assuming purchasers cost of 6.16%.