0 Bed Retail Property (high Street) For Sale

Investment Consideration:

Gross Initial Yield: 7.31%

Rental Income: £9,500 p.a.

VAT is applicable to this property

Comprises ground floor shop t/a Convenience Store

Situated in the heart of the town centre on the south side of Wheelock Street, close to its junction with St Michael`s Way, with occupiers close by include Tesco Express, Nationwide, Lidl, Home Bargains and more.



Property Description:

Comprises double fronted ground floor shops t/a Convenience Store, providing the following accommodation and dimensions:

Shop No.17: 36.9 sq m (397 sq ft)

Open plan retail, storage, wc



Tenancy:

The property is at present let to an Individual t/a Convenience Store for a term of 7 Years from 20th December 2023 at a current rent of £9,500 per annum and the lease contains full repairing and insuring covenants (by way of service charge). Rent review on 20.12.2025 and 20.12.2027 linked to RPI (5% collar and 8% cap). Break clause in 2025 NOT exercised. Deposit held of £2,850.



Tenure:

Long Leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.



Location:

Middlewich is a prosperous market town 20 miles east of of Chester and 7 miles south of Northwich. In close proximity to the A54 which links to junction 18 of the M6 Motorway. The property is situated on the south side of Wheelock Street, close to its junction with St Michael`s Way. Occupiers close by include Tesco Express, Nationwide Building Society, NFU Mutual, Morrisons, Lidl, Home Bargains, Cancer Research UK amongst many other local traders.