Co-Op C-Store, Redfield's Lane, Church Crookham, Fleet, GU52 0RB

Description
Built in 2022, the property comprises of a purpose built modern, single-story convenience store totalling 4,226 sq ft, with dedicated customer parking fronting Redfield’s Lane. The building provides an open plan retail sales area fitted to the Coop’s latest corporate specification.

Externally, the property includes a carpark providing 26 customer parking spaces, including disabled spaces and 2 EV chargers.
The site enjoys a prominent roadside frontage with excellent visibility to both vehicular and pedestrian traffic.

Location
The property is prominently located on the busy Redfield’s Lane, among the new housing development at Albany Park, Church Crookham, an established residential area of Fleet, Hampshire. Church Crookham lies approximately 2 miles south of Fleet town centre and benefits from excellent connectivity via the M3 motorway (J4A & J5), providing good access to London, Southampton and the wider South East.

The surrounding area is characterised by a strong mix of residential housing and local amenities, supporting consistent levels of footfall. Redfields Lane links Fleet to Aldershot and Farnham. Fleet itself is an affluent commuter town with a growing population, which is driven by strong transport links to London Waterloo (approx. 40 minutes by train).

The Co-op occupies a prominent and accessible position within the community, serving as the primary
neighbourhood convenience store for the surrounding catchment.

Viewings
Strictly by prior appointment with Hurst Warne.
Contact; Tirion Llewelyn
M; O;
E tirion.

Terms
Freehold

Tenancy
Let to the Co-operative Group Food Ltd, (registered society number 26751R) on a FRI 15 year lease, from 15th November 2022 expiring 14th November 2037 (circa. 12 years unexpired).

The current passing rent is £95,000 per annum, with a rent review every 5 years in line with CPI (collared and capped at 1%-3%). Next rent
review being November 2027.

Proposal
Offers sought in the region of £1,575,000 (One Million Five Hundred and seventy Five Thousand).

A purchase at this level reflects a net initial yield of 5.68% (after standard purchase costs).

Note; (Estimated revision Nov 2027 c £109,725 assuming CPI rent increase from now to Nov 27 is at 3% caprate (guide only))

VAT
This property is elected for VAT.