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%.