Bargain Buys, Middleton Street, Llandrindod Wells LD1 5YG

Llandrindod Wells, LD1 5YG

Sold

Price £500,000

Rent (pa) £45,000

Yield 8.6%

Investment Summary

Discount Retail Warehouse Investment Opportunity
Former supermarket of 16,232 sq ft on a large site of 0.96 acres providing ample parking
Centrally located adjacent to the town railway station
Category A in CVA approved 3rd July. Changed to monthly rents only
Let to Poundstretcher Limited for 10 years from 15 November 2018, expiring 14th November 2028 (7.4 years unexpired)
Exceptionally low passing rent of £45,000 per annum (£2.77 psf)
Open market rent review in November 2023 (capped at 3% pa compounded)
Previously occupied by the Co-op at a rent of £351,279 per annum (£21.64 psf)
The tenant didn’t serve notice for a November 2021 break demonstrating commitment to the location
Rent paid throughout 2020 and fully up to date
Offers in excess of £500,000 (STC)
Net Initial Yield of 8.6%
Low capital value of £31 psf or £520,000 per acre