Martin Drive, Castlefields, Stafford, Staffordshire
Size
6,250
Tenure
Freehold
EPC
Parking
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- Primary use
- Convenience store
- Other use(s)
- Shop
- Frontage
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No floor / site plan
Key features
- Long income 14.1 years unexpired to break
- Secure tenant line up
- £2,925,000
- 5.78% (after usual purchaser's costs)
Description
• Located immediately to the west of Stafford town centre, the property forms part of a new 1,500 home development by Taylor Wimpey including a new primary school and doctors surgery.
• A new build supermarket extending to 418.0 sq.m (4,500 sq.ft) pre-let to Sainsbury’s Supermarkets Ltd (15 years), adjoining in line coffee unit extending to 162.5 sq.m (1,750 sq.ft) pre-let to Coffee#1 Ltd (10 years) and a two bay electric vehicle charging hub pre-let to Green Turtle Energy Ltd (30 years)
• Weighted average unexpired lease term to break of 14.1 years
• Sainsbury’s lease subject to five yearly upward only reviews to CPI collared at 1% and capped at 3% per annum compounded
• Green Turtle lease subject to annual increases to CPI review collared at 2% and capped at 3.5%
• Total income £173,000 per annum
• A reserved planning application has been submitted and is due to be approved under delegated powers imminently. The site has an existing outline consent for the proposed use.
• Practical completion November 2026
• Offers are sought for the forward funding of the investment in excess of £2,925,000
• Net initial yield 5.78%, assuming costs of purchase on the site of 4.33%
- Service charge
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- Business rates
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- Use class
- E
- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
About ATLAS RE LIMITED, Warwick
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