Tesco Express, 31/32 Clifton Street & Ruby Street, Cardiff CF24 1LR
Sold
Price
£1,313,000
Rent (pa)
£87,000
Yield
6.25%
Investment Summary
- Long Income Convenience Store Investment
- Well located store on the edge of Cardiff City Centre
- Very busy local area with densely populated residential and student accommodation
- Total of 4,850 sq ft across ground and basement ancillary
- Fully let to Tesco Stores Limited (D&B 5A2 – Turnover £44.7bn)
- Tesco recently signed a 15 year lease renewal demonstrating strength of trade from the store
- 15 year FRI lease commencing 23rd April 2024, expiring 22nd April 2039 (c. 15.5 years unexpired)
- Tenant break option on the 10th anniversary (10.5 years remaining)
- Rebased passing rent of £87,000 per annum (£17.94 psf)
- Rent reviewed every 5 years in line with CPI annually compounded collared and capped at 1%-3%
- Small first floor element sold off long leasehold providing £250 pa ground rent income
Interested in this property?
Contact our team for more information or speak directly with Sam Beckett.
Contact UsSimilar Properties
Starbucks, Vantage Point, Faverdale, Darlington DL3 0PE
£1,315,000Starbucks, Vantage Point, Faverdale, Darlington DL3 0PE
Iceland, 258-260 Stockport Road, Timperley, Altrincham WA15 7UT
£1,300,000Iceland, 258-260 Stockport Road, Timperley, Altrincham WA15 7UT
Iceland Foods, 303 Hoylake Road, Moreton, Wirral CH46 0RL
£1,200,000Iceland Foods, 303 Hoylake Road, Moreton, Wirral CH46 0RL
