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