A recently converted Public House now comprising two newly configured neighbourhood convenience units with extensive frontage and generous on-site customer car parking.

The scheme is prominently situated in the heart of an established residential area with local shopping and community facilities.

Unit 1: Totaling 4,387 sq ft and is let to Heron Foods Limited on a 15 year lease with a lease commencement date of 17 June 2019. There is a tenant only break on the 10th anniversary of the term subject to the payment of a break penalty fee. Passing rent of £55,000 per annum with five yearly rent reviews. The first rent review in June 2024 provides for a fixed uplift to £60,000 per annum.

Heron Foods Limited has the top Dun and Bradstreet Rating of 5A1 which indicates ‘minimum risk.
Unit 2: Totaling 1,950 sq ft is vacant and is being offered in a refurbished shell condition. The unit will be sold with a rental guarantee at £20,000 per annum (£10.25 per sq ft).

We are instructed to seek offers in excess of £885,000 reflecting a NIY of 8.02% assuming purchasers costs of 5.61%.

Ideal SIPP purchase.