Ryedale Court Shopping Centre, The Village, Haxby, York YO32 3SA

York, YO32 3SA

Sold

Price £2,840,000

Rent (pa) £214,690

Yield 7.8%

Investment Summary

Located within a densely populated affluent suburb of York
Local shopping parade providing primary convenience offering for the town and surrounding areas
Total gross internal area of 25,700 sq ft (2,387 sq m)
41% of the commercial income is secured against the 5A1 covenant of Co-operative Group Food Limited and Funeral Services Limited
Strong local retail line up including Co-op Food, Co-op Funeralcare, Johnsons Dry Cleaners and Costa Coffee
Most local tenants have been in occupation over 10 years and most through multiple lease renewals
Co-Op to transfer into ‘right size unit’ of 4,687 sq ft to align with core strategy. The remaining space to be left in shell condition.
Co-op providing a lease on the whole unit until works complete
Total rental income of £214,690 per annum
AWULT of 10.03 years to expiry and 8.48 years to break.
Freehold
Offers in excess of £2,840,000 (STC)
Representing a Net Initial Yield of 7.04%
Estimated Reversionary Yield of 7.80% (Assuming 3% CPI)