Co-op, 65 Middle Street, Glovers Walk Shopping Centre, Yeovil BA21 4LX

Yeovil, BA20 1LQ

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Acquired
Co-op, 65 Middle Street, Glovers Walk Shopping Centre, Yeovil BA21 4LX
Price £1,650,000
Rent (pa) £114,000
Yield 6.71%

Investment Summary

  • Super long income department store investment
  • 23,699 sq ft over 3 floors at the entrance to Glovers Walk Shopping Centre
  • Let to Co-operative Group Limited
  • 99 years from 24 June 1973, expiring 27 June 2072 (52 years unexpired)
  • No tenant break option
  • Current rent of £114,000 per annum (£4.81 psf)
  • Tenant not in occupation, Peacocks previously occupied on sub-let
  • 25 yearly rent reviews to 19/25ths of market value (Next review 24th June 2023)
  • Upwards and downward rent reviews but reviews only instigated by Landlord notice
  • Offers in excess of £1,650,000 (STC)
  • 6.71% Net Initial Yield
  • Low capital value of just £70 psf
Town Yeovil
Postcode BA20 1LQ
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