Sold

Reading – Forecourt & Convenience Store Investment

Co-Op, Charvil Service Station, New Bath Road (A4), Charvil, Reading, RG10 9RL

Offers in excess of £2,400,000

Property Type:
Commercial
Sub Types:
Retail, Alternative
Tenure:
Freehold
Net Initial Yield:
5.75%

Income

£145,848 per annum

Description

Highly visible petrol filling station located on the busy A4 linking Reading to London.

Let to Somerfield Stores Ltd guaranteed by the excellent covenant of Co-Operative Group Ltd for a further 7.25 years.

No Breaks.

Current rent passing £145,848 per annum subject to fixed increases of 2% per annum.

Estimated fuel volume 3.9m litres per annum.

Freehold.

Prominent Site on the busy A4 with an area of 0.5 acres (0.2 ha).

Long Term Redevelopment Potential (STP).

Offers sought in excess of £2,400,000 subject to contract and exclusive of VAT.  A purchase at this level reflects a net initial yield of 5.75% assuming purchasers costs at 6.36%.