Sold

Bristol – Forecourt & Convenience Store Investment with Long Term Development Potential

Applegreen, Gloucester Road, Horfield, Bristol, BS7 8NL

Offers in excess of £2,250,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
5.55%

Income

£133,165pa

Description

  • Highly visible petrol filling station on a prominent corner site: – the only one for 1.5 miles so limited competition.
  • Located on the main arterial road (A38), 1.5 miles to the north west of Bristol City Centre in a popular student area.
  • Let to 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.
  • Current rent passing £133,165 pa subject to fixed annual increases of 2% pa.
  • Freehold.
  • Estimated fuel volume 3.5m litres per annum.
  • Annual retail spend in the store of £700,000 per annum.
  • Site area of 0.50 acres.
  • Long Term Redevelopment potential (STP).
  • Offers sought in excess of £2,250,000 (Two Million Two Hundred and Twenty Five Thousand Pounds) subject to the contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 5.55% assuming purchasers cost of 6.22%.