Investment Consideration:
Gross Initial Yield: 10.12%
Rental Income: £43,500 p.a.
Let until November 2030. No breaks. Rent review in November 2026
VAT is applicable to this property. Sale to be treated as TOGC.
Comprises large two-storey retail premises t/a Bonmarche
Future residential development potential, subject to obtaining consents
Situated on pedestrianised street in the heart of the town centre, opposite St Peter`s Church.
Occupiers close by include M&S, Co-Op Food, Café`s, Restaurant, Nail Salon and many more.
Property Description:
Comprises two-storey retail premises t/a Bonmarche, providing the following accommodation and dimensions:
Ground Floor: 217 sq m (2,335 sq ft)
Open plan retail, storage, wc
First Floor: 187 sq m (2,015 sq ft)
Office, storage, ancillary
Total GIA: 404 sq m (4,350 sq ft)
Tenancy:
The property is at present let to Bonmarche Properties Ltd for a term of 8 years from 1st November 2022 at a current rent of £43,500 p.a. and the lease contains full repairing and insuring covenants. Rent review on 01.11.26 open market. Tenant break option in 2026 NOT exercised.
Location:
The Cathedral City of Hereford is located approximately 50 miles south-west of Birmingham and 25 miles north-west of Gloucester, on the A49, which connects to the M50 some 15 miles to the south-east. The property is situated on pedestrianised street in the heart of the town centre, opposite St Peter`s Church. Occupiers close by include M&S, Co-Op Food, Edinburgh Woollen Mill, Café`s, Restaurant, Nail Salon and many more.
