Features
- Entirely let to Bank of Scotland (t/a Halifax) on a FR&I lease expiring 24th December 2026
- Passing rent of £27,000 per annum
- 2024 break clause not exercised
- Comprising a total of 299.79 sq m (3,227 sq. ft)
- Town Centre location, close to Superdrug, Greggs, Iceland and Vodafone
- Virtual Freehold - Held on a lease for 250 years from 21.09.2016
- Guide price - £249,950, equating to a net initial yield of 10.53%
Description
The property comprises a two story mid parade property occupied by Bank of Scotland (trading as Halifax) with a ground floor retail area fitted out to their usual corporate branding. To the first floor there is ancillary accommodation with rear service access and car parking to the rear.
Location
The property is situated on east side of Derby Road between its junctions with Centre Way and Huyton Hey Road.
Huyton is a busy town located 7 miles east of the city of Liverpool, 5 miles south-west of St Helens and 11 miles west of Warrington. The town benefits from close proximity to the intersection of the M62 and M57 motorways, providing easy access to Liverpool to the west and Manchester to the east. Huyton Station is 0.3 miles from the property and occupiers close by include Superdrug, Iceland and Vodafone amongst many others.
Tenancy
The entire property is let to Bank of Scotland PLC (trading as Halifax) for a term of 5 years from 25/12/2021, expiring 24/12/2026. The passing rent is £27,000 per annum, rebased from £48,750. The 2024 break clause has not been exercised demonstrating commitment to the location.
Price
Offers based on £249,950 plus VAT are sought for the long leasehold interest. A purchase at this level reflects a net yield of 10.53%, after usual purchaser’s costs.
VAT
We are advised that VAT is applicable to the purchase price, although it is anticipated that the sale will be dealt with by way of a TOGC.
EPC
Available upon request.
Legal Costs
Each party is to bear their own legal costs in relation to this matter.
Anti Money Laundering
In accordance with mandatory anti-money laundering regulations, two sources of identity and a form of proof funds will be required from the successful purchaser.
