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%.