Under Offer
Leominster, Herefordshire – Freehold Co-Op Supermarket Investment Securely Let Until 2031
Co-operative, Dishley Street, Leominster, Herefordshire, HR6 8PX
Offers in excess of £3,430,000
- Property Type:
- Commercial
- Sub Type:
- Retail
- Tenure:
- Freehold
- Net Initial Yield:
- 5.75%
Income
£210,000 pa
Description
- Entirety let to Co-Operative Foodstores Limited, guaranteed by Co-Operative Group Food Limited, on a full repairing and insuring lease until 2031, thus having approximately 9 years unexpired
- Current rent passing of £210,000 pa subject to an open market rent review in 2025
- A reversionary lease was agreed in 2021 for a further 6 years from 2025, helping to demonstrate the tenant’s commitment to the location
- Co-Op supermarket measuring approximately 15,043 sq ft GIA and 2 smaller retail units measuring 1,104 sq ft NIA
- Located in the centre of the market town of Leominster immediately north of the town’s bus station
- Freehold
- Site area of 1.233 acres including a car park with spaces for approximately 75 cars
- Offers are sought in excess of £3,430,000 subject to contract and exclusive of VAT. Based on this level of pricing, the net initial yield reflects 5.75%, assuming standard purchasers costs.