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.