Neighbourhood convenience retail investment anchored by the Co-op
Situated in a local centre in a busy Worcester residential suburb of Brickfields
Let to 2 tenants, of which the Cooperative account for 79% of the total income
Unit 1 let to Kenmare Estates Limited (guaranteed by Midcounties Co-operative Limited) under a 20-year lease expiring 9th May 2036 (15 years unexpired)
Well configured supermarket providing 4,556 sq ft over ground and lower ground floor
Low Co-op rent of £49,000 per annum (£10.75 psf)
Five yearly review patterns subject to upwards only OMRV, next review due 10th May 2021
Co-op ERV of £68,340 per annum (£15 psf)
Total passing rent of £62,000 per annum
Total ERV of £83,340 per annum (£14.81 psf)
AWULT of 12.7 years to expiry (12.0 years to break)
