Co-Op Food, 39 Northcourt Road, Abingdon, Oxfordshire OX14 1PJ

Abingdon, OX14 1PJ

Sold

Price £1,600,000

Rent (pa) £126,400

Yield 5.55%

Investment Summary

• Freehold convenience store & residential investment in Abingdon, Oxfordshire.
• Abingdon is located 7 miles south of Oxford, 40 miles northwest of Reading and 60 miles west of London.
• The average house price in Abingdon is £384,000 (November 2024), 43% higher than the national average.
• Situated on Northcourt Road to the north of the town centre.
• Established residential area, nearby to Abingdon Witney College, Duchess Nursery, Abingdon United FC and Christ Church.
• Two storey building with ground floor commercial unit and two apartments on the upper floors.
• Gross internal floor area of 5,731 sq ft (GF).
• Parking for 18 vehicles (3 accessible).
• Ground floor let to Co-Operative Foodstores Limited.
• 15-year lease wef 9th November 2019, expiring 8th November 2034 (9.47 years unexpired).
• Rent reviewed 5 yearly in line with CPI (2-4% cap and collar).
• Tenant option to renew lease subject to payment of premium - current figure of £172,342.49.
• Current passing rent of £67,821 per annum (£11.83 psf).
• Estimated rental value of £100,000 per annum (£17.44 psf).
• Two upper floor apartments – Flat 39a let at £13,200 per annum and Flat 43a currently vacant. Vendor to provide 12 month rental guarantee.
• Total rental income of £94,221 per annum.
• Total estimated rental value of £126,400 per annum.
• Freehold.