59-61 London Road, Stockton Heath, Warrington, WA4 6SG

We are delighted to offer for sale this prime village centre mixed use investment property. The ground floor and first floor of 59 London Road are let to Three’s Company (Catering) Limited by way of a 10 year Lease from July 2024. There is a tenant only break clause at the end of the 5th year of the term. This Tenant is rapidly expanding across the region and they currently have over 40 stores.

The first floor of 61 London Road comprises a separately accessed residential flat.

The property comprises a pair of adjoining terraced buildings that have been opened up at ground floor to form this most attractive double unit. Prior to the Coffee House tenure, it was home to Costa Coffee.

The Coffee House fitted out and moved in during Summer 2024 and they report that the property is trading very well.

We are of the opinion that this property boasts the best location in Stockton Heath Village. It is situated at the mid-point of the prime retail section fronting the A49 London Road. Formerly Costa Coffee it is situated directly opposite the entrance to The Forge Shopping Precinct, which leads to Marks & Spencer and the Villages main car park.

£795,000.

Three’s Company (Catering) Limited trading as The Coffee House currently have over 40 regional stores and are under a programme of rapid expansion. The Tenant company was first incorporated in 2010. The current rent under this Lease is £40,000 per annum.

The first floor flat will be let on an Assured Shorthold Tenancy Agreement at a rent of £12,000 per annum.

The current combined gross rent amounts to £52,000 per annum, which represents a gross yield a shade over 6.5%. We are of the opinion that the ERV of the commercial element is £45,000 PA and our client is willing to top up the current rent to this level until the next rent review (based on achieving asking price). Furthermore, single units along this section of London Road have been recently transacting around £400,000, which further substantiates our asking price.

We are advised that VAT is not currently applicable to the property.

In accordance with Anti-Money Laundering Regulations, two forms of Identification and confirmation of the source of funding will be required from the successful purchaser.