The property comprises a convenience store forming part of a modern residential development. The property is located in an established residential area 2.5 miles south-east of Doncaster town centre. Ground floor retail unit of 3,736 sq.ft let to Co-operative Group Food Ltd on a 15 year term from 18 June 2007. Passing rent of £49,140 per annum (£13.15 per sq.ft). Offers sought in excess of £625,000 which reflects a net initial yield of 7.48%.
Franck Steier Price has recently completed the sale of a Co-op convenience store investment in Doncaster located in the residential suburb of Bessacarr.
The ground floor store formed part of a modern residential scheme and extended to 3,736 sqft with the benefit of 7 car spaces. The unit was held on a 125 year long lease at a fixed peppercorn rent.
The unit was let to Co-operative Group Food Ltd on a 15 year lease from June 2007. The passing rent was £49,140 per annum (£13.15 per sqft). The lease is due to expire in June 2022.
The property was sold to a private investor client of CPP for £625,000 which reflected an initial yield of 7.48%.