0 Bed Commercial Property For Sale

Description
The property was built approximately a decade ago and arranged over ground floor only, providing a retail premises occupied as Sainsburys Local. The internal accommodation includes a sales area, stores and ancillary accommodation to the rear. The property forms part of a larger residential block of nine flats, which is not part of the sale.

The property benefits from car parking spaces to the side and rear.

Location
The property is located on High Street in Bawtry town centre, South Yorkshire. Bawtry is considered an upmarket location with a variety of boutiques, restaurant, pubs, hotels, cafes, and independent & national retailers.

The property is situated on the High Street close to its junction with Station Road in a central location. Bawtry is located 11 miles south east of Doncaster and approximately 2 miles from the A1 motorway network.

Tenure
The property is held on a freehold and long leasehold (999 years from 1st January 2014 at a peppercorn) basis.

Tenancy Details
The property (ground floor) is let to Sainsbury’s Supermarkets Ltd on a 15 year lease from 19th November 2014. The current passing rent is £73,611 pa. The Freehold includes the 9 upper floor self-contained flats, producing £1,350 pa (£150 per flat). The upper floor flats are sold off on 150 year lease long leasehold agreements from 2014 / 2015.

The total income from 19th November 2024 is therefore £74,961 pa. Further details are available by request.

According to Sainsburys annual report and Financial Statements 2024, for the year ended 2nd March 2024, Sainsburys Supermarket plc reported a turnover £32.721 billion, a pre-tax profit of £701 million and a net worth of £6.868 billion.

Price
£950,000. We are informed VAT is payable on the price. A purchase at this level reflects a Net Initial Yield of 7.33% after allowing for purchaser costs. Or 7.46% allowing for £1350 pa from the upper flats (sold off on long leasehold).

Identity Checks
In order to comply with Anti-Money Laundering Legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser.