Sold

Hinckley – Forecourt & Convenience Store Investment With an Unexpired Term of 17 Years

Watling Street, Hinckley, LE10 2JQ

Offers in excess of £1,650,000

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold
Net Initial Yield:
5.75%

Income

£100,814 pa

Description

  • Strategically located Petrol Station Forecourt and foodstore, 170 yards away from junction 1 of the M69 motorway
  • Situated southbound on the busy A5 trunk road, being the final petrol station before the motorway
  • Comprising of 2,342 sq ft of retail accommodation and 8 petrol pumps, occupying a site of 0.34 acres
  • Located south of Hinckley town, 13 miles from Leicester and Coventry
  • Producing an income of £100,814.76 per annum subject to fixed annual uplifts of 2%
  • Let until March 2038 with no break option – unexpired term of 17 years
  • Let to Rontec Properties (No.4) Limited, guaranteed by Rontec Roadside Retail Limited and Rontec Service Stations 1A
  • Additional guarantee by the undoubted covenant of Co-operative Group Food Limited until 2027
  • Estimated retail sales of £570,000 per annum and fuel volume of 4.3m litres per annum
  • Freehold