Co-op, 170 Heathcote Street, Stoke-on-Trent, ST3 5SN

Description
The property comprises a modern, purpose-built convenience retail unit of traditional brick construction, beneath a pitched and tiled roof. The elevations feature glazed frontage with automatic entrance doors, complemented by Co-op branded signage. Externally, the site benefits from a defined customer car park to the front, with clearly marked bays and pedestrian access routes. With a plot size of 0.289 acres, the property fronts and is accessed via Heathcote Street .

Location
The property is prominently situated at Co-op Food - Longton - Heathcote Street, occupying a well-established retail position within the Longton area of Stoke-on-Trent. Heathcote Street forms part of a predominantly residential catchment, characterised by a dense mix of traditional housing and local amenities. The store is positioned to serve nearby neighbourhoods including Meir, Blurton and Weston Coyney.

The immediate vicinity comprises a mix of community uses including schools, healthcare facilities and neighbourhood retail, underpinning strong local demand for convenience shopping. The location benefits from good connectivity to surrounding arterial routes, providing easy access to Longton town centre and the wider Stoke-on-Trent conurbation. the A50 is 1 mile away and junction 15 of the M6 is within 5 miles.

Viewings
Strictly by appointment via the Sole Agent Vail Williams

Terms
We are instructed to seek offers in excess of £1,250,000 (One Million, Two Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7.6%, assuming purchasers costs of 5.96%

Legal Costs
Each party to responsible for their own legal costs

AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.

VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.

Tenure
Freehold - Title Number - SF667968

Tenancy
The property is let to Co-Operative Group Food Limited, with Co-Operative Group Limited as Guarantor. The FRI lease is for a term of 15 years from 4th December 2015, expiring 3rd December 2030. The current passing rent is £100,683 (please note, we are awaiting the rent review memo to be signed). The lease is inside the provisions of the Landlord & Tenant Act 1954. There are no further rent reviews.

Covenant
Co-operative Group Food Limited (Company Number: 26715R) is a wholly owned subsidiary of The Co-operative Group Limited is owned by over 4 million UK consumers.

The Co-op operates 2,600 food stores, over 800 funeral homes and provides products to over 5,100 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited. Employing over 63,000 people, the Co-op has an annual turnover of £11.5bn