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Retail Property (high street) for sale

Yarborough Road, Grimsby, Lincolnshire, DN34

Offers in Excess of £830,000
5,502 sq. ft.

Property Description

Commercial information

  • 5,502 sq ft (511 sq m)
  • Use class orders: A1 Shops

Key features

  • Quality Freehold Investment
  • Rental Income of 61,854 pax
  • Net initial yield 7.06% after standard costs
  • Majority Let on 20 year term to Tesco Stores Ltd.
  • Prominent location west of Grimsby Town Centre

Full description

A converted former hotel with impressive frontage and large on-site customer car parking currently well let to excellent covenant, Tesco Stores Ltd.

The upper floors which are included within the area demised to Tesco have not been inspected.

The Market Wine Shop is a single storey building with brick elevations and flat roof, situated adjacent the Tesco Store and benefits from shared parking.

Site area: 0.254 hectares (0.627 acres)

The property is located within a medium to high density residential area, a short distance to the west of the main town centre.

The property holds a prominent trading location on the roundabout intersection at the end of Yarborough Road (A1136) which acts as a busy thoroughfare leading to the A180, the main Grimsby route.

This is a busy neighbourhood retail location with other nearby occupiers including Lidl and Toyota.

COVENANT
Tesco Stores Ltd (Company No 519500) is one of the largest supermarket chains in the UK, with over 3,500 stores and over 310,000 employees.

The Market Wine Shop is let to G&H Retail Ltd (Company No 09183230) trading as Simply Drinks.

Credit Reports for both occupiers are available upon request.

PROPOSAL
Offers are invited for the freehold in excess of 830,000 reflecting a NIY of 7.06% allowing for typical purchaser's costs.

VAT
The property is elected for VAT. The vendors may be willing to proceed with a sale by the way of TOGC.

VIEWING
To view the premises and for any additional information please contact the sole agents.


More information from this agent

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