Sold
Stratford-upon-Avon – Prime Retail Investment
37-40 High Street, Stratford-upon-Avon, CV37 6AU
Offers in excess of £5,100,000
- Property Type:
- Commercial
- Sub Type:
- Retail
- Tenure:
- Freehold
- Net Initial Yield:
- 7.25%
Income
£395,000 pa
Description
- Stratford-upon-Avon is a historic market town with close to 3 million tourists visiting annually.
- Prominently positioned on the High Street benefiting from a high footfall.
- Attractive parade of 5 retail units with ancillary upper parts.
- The town’s catchment population is ranked the 9th most affluent in the UK.
- Total passing rent of £395,000 per annum.
- WAULT of 10.2 years to expiry (8.6 years to break).
- 96% let to ‘Minimum Risk’ covenants.
- Fully let to the strong covenants of The Body Shop, Vodafone, Timpson, Fraser Hart and Mr Simms Olde Sweet Shoppe.
- The properties are held freehold under 3 separate titles
- 40 High Street and 37 High Street benefit from separate access to the upper parts. Potential to develop subject to planning.
- Offers sought in excess of £5,100,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.25% assuming purchaser’s costs of 6.6%.