Tesco Express, 31/32 Clifton Street & Ruby Street, Cardiff CF24 1LR
Cardiff, CF24 1LR
Sold
Price
£850,000
Rent (pa)
£70,000
Yield
10.14%
Investment Summary
- Inner city suburb convenience store investment
- Very busy local area with densely populated residential and student accommodation
- 4,850 sq ft ground floor supermarket
- Freehold
- Let to Tesco Stores Limited (D&B 5A1 – Turnover £42bn)
- 15 years with effect from 3 April 2009, expiring 2 April 2024 (3.75 years unexpired)
- Current rent of £91,000 per annum (£18.76 psf)
- Opportunity to extend the lease for reduction in rent
- Estimated rental value of £70,000 per annum
- Upper floor sold off Long Leasehold subject to £250 per annum ground rent
- Pandemic resistant income March and June quarter paid
- Quoting offers in excess of £850,000 (STC)
- 10.14% Net Initial Yield and 7.80% Reversionary Yield
Interested in this property?
Contact our team for more information or speak directly with Mark Powell.
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