36-37 Market Place, East Dereham, Norwich NR19 2AP

Norwich, NR19 2AP

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36-37 Market Place, East Dereham, Norwich NR19 2AP
Price £2,950,000
Rent (pa) £125,800
Yield 4%

Investment Summary

  • Super long income supermarket investment
  • Large town centre building with alternative use potential
  • 11,657 sq ft over 3 floors (Ground: 6,558 sq ft, 1st: 4,697 sq ft, 3rd: 401 sq ft)
  • Privity lease let to Co-operative Foodstores Limited with guarantee from Co-operative Group Limited
  • Undoubted Covenant, D&B rated 5A1 – Net worth of over £10bn
  • 99 years with effect from 11 August 1972, expiring 10 August 2072 (51.8 years unexpired)
  • Low current rent of £125,800 per annum (£10.79 psf)
  • 3 yearly RPI reviews (capped at 109.27% and collared at 103.03%)
  • Next review due 11 August 2023
  • Offers in excess of £2,950,000 (STC)
  • Net Initial Yield of 4%
  • Estimated Reversionary Yield of 4.23% and 14.52% in 2023 and 2071 respectively
  • Total rental liability of £13.37m
Town Norwich
Postcode NR19 2AP
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