Northwich – Freehold Secure Income Investment (Co-op 12 years unexpired)
Former Co-op, Chester Way, Northwich, Cheshire, CW9 5JA
- Property Type:
- Sub Type:
- Attractive town centre former supermarket investment.
- Situated in the affluent town of Northwich.
- The unit comprises a total of 1,300.3 sq m (13,996 sq ft) of well configured floor space.
- Let for a further 12 years (no breaks) to the excellent covenant of Co-operative Foodstores Limited, with Co-operative Group Limited as guarantor.
- Current rent of £272,689 per annum.
- Fixed rental uplifts in June 2021 and June 2026, based on 2.25% per annum compounded 5 yearly.
- Car Parking for 129 cars.
- Site area of 1.70 acres (0.69 hectares)
- The site provides significant asset management opportunities, including redeveloping the site into office, leisure, retail and residential (STP).
- Offers sought in excess of £3,500,000 subject to contract and exclusive of VAT. This equates to an attractive net initial yield of 7.31% after allowing for purchaser’s costs of 6.50%.