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Northwich – Freehold Secure Income Investment (Co-op 12 years unexpired)

Former Co-op, Chester Way, Northwich, Cheshire, CW9 5JA

Property Type:
Commercial
Sub Type:
Retail
Tenure:
Freehold

Income

£272,689 pa

Description

  • 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.
  • Freehold.
  • 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%.