We are pleased to confirm that in May 2020 we sold this convenience store entirely let to Martin McColl Limited.
The building is a two storey corner brick building under a pitched slate roof. The retail shop is arranged over the ground floor with ancillary and staff accommodation to the rear. There is an additional 2,662 sq ft of underutilized space on the first floor. The premises benefits from good on street parking in front of the unit.
The whole property is let to Martin McColl Limited for a term of 16.5 years from the 25th August 2018 on FRI terms and subject to fixed uplifts at 2% per annum compounded throughout. The passing rent is £27,500 per annum.
Daniel Capobasso, Investment Partner at Johnson Tucker commented: “we were pleased with the sale and happy to hit our asking price – the purchaser was keen to acquire a secure asset let to a good tenant on a long lease. We are currently receiving a high volume of calls and enquiries for long-let, secure investments across the North East , particularly while other asset classes are showing such volatility.”
If you would like more information on this investment sale or any other investments listed on our website please contact Daniel Capobasso on 0191 269 7897 / 07968618948 or email firstname.lastname@example.org. Please feel free to subscribe to our investment property mailing list to receive the latest investment opportunities too.