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Hébergement
La propriété a été mesurée par BKR Floorplans et offre les logements suivants :
| Façade brute | 40 ft | 12.19 metres |
| Façade nette | 41 ft 3 inches | 12.57 metres |
| GIA Rez-de-Chaussée | 2,469 sq ft | 229.37 sq m |
| Rez-de-chaussée NIA | 2,382 sq ft | 221.29 sq m |
| ITZA | 1386.25 |
A set of floor plans is available to download, and the measured survey report will be re-addressed to a purchaser at a cost of £540 + VAT.
CPE
The property has an EPC rating of ‘B’ valid until 28e Janvier 2030.
Valeur imposable
According to the valuation office website the rateable value for the property is £26,250
Le multiplicateur des tarifs professionnels est de 49,9 pence.
Mandat
Pleine propriété.
Location
Le bien est loué à One Stop Stores Limited on a full repairing and insuring lease, subject to a Schedule of Condition, for a term of 15 years from 4th February 2019, expiring 3rd February 2034. The current rent is 25 000 £ par an and there is an upwards only open market rent review on 4th February 2029.
The tenant had a break option in February 2024 which was not exercised, demonstrating the tenant’s commitment to this location. There is a further break option on 4th February 2029, subject to six months’ written notice.
The lease provides that the tenant has a pre-emption right when marketing to acquire the freehold and submit a proposal for consideration. However, the tenant has confirmed that they have no interest in acquiring the freehold.
It should be noted that the lease provides that any defect which makes the property unfit for occupation or unfit for use, the tenant can suspend paying rent. The landlord must rectify at its own cost or may elect not to rectify. Note that the defects are defined in the agreement for lease, but the agreement is not available. However, we are unaware of any building issues which could give rise to a landlord’s expense.
The lease provides that where the landlord is required to undertake “Exceptional Works” which go beyond typical services, whilst the tenant is One Stop the cost is not to exceed £5,300 + VAT and the tenant is responsible for half.
Engagement
One Stop Stores Limited (Company Number: 02462858) a rapporté les chiffres suivants :
| Fin d'année | 24 February 2024 | 24 February 2023 |
| Revenu | £1,297,600,000 | £1,171,300,000 |
| Bénéfices avant impôts | £22,100,000 | £15,400,000 |
| Actif net | £163,630,000 | £54,416,000 |
One Stop Stores Limited is a wholly owned subsidiary of Tesco PLC, it is a retail convenience business which currently has over 1000 retail stores throughout England and Wales. The convenience stores are open seven days a week providing a range of products from newspapers, groceries and alcohol in addition to cash withdrawals, National Lottery and Post Office services.
T.V.A.
This property has been registered for VAT. It is anticipated that the sale will be treated as a transfer of a Going Concern (TOGC).
Proposition
Nous sommes chargés de rechercher £270,000 (Two Hundred and Seventy Thousand Pounds), subject to contract, reflecting an attractive net initial yield of 9.0% (allowing for purchaser’s costs at 2.91%).
Please note that a purchaser will be re-charged the costs of the measured survey (£540.00 +VAT) and searches (£2,459.80 inc VAT) which are provided in the data room.
Considérations d'investissement
Opportunity to acquire a freehold convenience store investment;
Strong covenant to One Stop Stores a wholly owned subsidiary of Tesco PLC;
Over 8 years unexpired lease term;
2024 break option not exercised, demonstrating the tenant’s commitment to this location;
The property benefits from being in a densely populated residential area;
A purchase at the asking price represents an attractive net initial yield;
Attractive lot size for investors.
Clause de non-responsabilité
Fixed Charge Receivers Andrew Pear and Milan Vuceljic by the powers given by the Mortgage and all other powers given by statute or otherwise who act as agents for the Company and without personal liability. Both Fixed Charge Receivers are licenced by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.
Services financiers Singer Vielle
Contactez notre équipe si vous recherchez une dette senior, un financement relais ou un financement de développement.
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