Features
- Prime Freehold retail investment opportunity
- Substantial retail unit – 29,051 sq. ft.
- Let to Poundland Ltd on a new 5 year lease
- Passing rent - £90,000 per annum
- Guide Price - £1,200,000, equating to a net initial yield of 7.08%
Description
A 100% prime retail investment on the pedestrianized section of Market Place, comprising 29,051 square feet of well configured and flexible retail accommodation let to Poundland Ltd.
Location
Nuneaton is an historic market town located in the county of Warwickshire, approximately 24 miles east of Birmingham and 9 miles north of Coventry.
Motorway access to the town is extremely good, being 5 miles north of the M6 Junction 3 and having good links to the M69, M1 and M42 motorways.
Rail services to London Euston are available in approximately 1 hour 12 minutes.
Major facilities include Ropewalk Shopping Centre and the Abbeygate Shopping Centre.
The property is prominently located on Market Place in the heart of the town centre. It’s prime location is close to retailers including strong footfall drivers such as Boots, , Superdrug, Caffe Nero, F Hinds Jeweller's and Specsavers.
Tenure
Freehold, subject to the existing tenancy.
Tenancy
The property is let to Poundland Ltd on a new 5 year lease from 24th June 2023, at a passing rent of £90,000 per annum.
Price
Offers in the region of £1,200,000 are sought for the Freehold interest , equating to a net initial yield of 7.08%, after purchasers costs of 5.92%.
Business Rates
£105,000.
VAT
We are advised that VAT is applicable to the purchase price, although the sale is likely to be treated as a TOGC.
EPC
Available upon request.
Anti Money Laundering
In accordance with mandatory anti-money laundering regulations, two sources of identity and proof funds will be required from the successful purchaser.
