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