Sold
Rochester – Forecourt & Convenience Store Investment Let to Co-Operative Foodstores Limited
Co-op, 342 City Way, Rochester, ME1 2BJ
Offers in excess of £3,400,000
- Property Type:
- Commercial
- Sub Type:
- Petrol Filling Station
- Tenure:
- Freehold
- Net Initial Yield:
- 5.36%
Income
£192,644 p.a
Description
- Prominently situated Petrol Station Forecourt located on the busy A229, the connecting road between Rochester and M2 motorway
- Comprising of a newly refurbished store providing accommodation with 8 petrol pumps, Amazon locker and customer parking
- Occupying a site of 0.29 acres in a densely populated South East residential location
- Rochester is an established commercial centre with excellent connections to London and the Channel Ports
- Producing an income of £192,644 per annum subject to fixed annual uplifts of 2%,
- Let until 20th June 2032 with no break option – unexpired term of 11 years
- Let to Cooperative Foodstores Limited, guaranteed by Co-Operative Group Food Limited
- Estimated Retail Sales of £2.4m per annum and fuel volume of 4.9m litres per annum
- Freehold
- Long term residential development, subject to consent