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High Yielding Town Centre Retail Investment
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for sale
Private Treaty
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£
285,000
Subject to contract
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Location
Cannock is located in the county of Staffordshire, approximately 39 km (24 miles) north of Birmingham, 19 km (12 miles) north of Walsall and 14 km (9 miles) south of Stafford.
The town benefits from good road communications with Junction 7 of the M6 Toll being located approximately 1.6 km (1 mile) to the south and Junction 12 of the M6 Motorway approximately 5 km (3 miles) to the west. The town is also served by the A34 (north-south) and A5 (east-west).
The town is connected to the national railway network with a fastest journey time of 2 hours 30 minutes to London Euston and 38 minutes to Birmingham New Street. Birmingham Airport is approximately (28 miles) to the south-east.
Summary
- Town centre high street retail investment
- Located at the entrance to the Cannock Shopping Centre
- Let to two established tenants
- £285,000, subject to contract
- 13% Net Initial Yield
Situation
The property is prominently located on a corner position within the Cannock Shopping Centre.
Cannock Shopping Centre is the town’s primary covered shopping area. With over 35 places to shop, eat and drink, occupiers in the centre include New Look, Specsavers, JD Sports, EE, Costa Coffee, Holland & Barrett, Bodycare and Poundstretcher.
In addition, Cannock Market Hall is a thriving indoor market located within the shopping centre, housing services ranging from jewellery, clothing and craft supplies to watch repairs, nail technicians, food & drink and more.
The town’s main bus station is immediately adjacent to the Centre.
The shopping centre is located directly opposite the site of a significant regeneration scheme, set to transform the town centre. Cannock Chase Council has secured £20 million from the Government’s Levelling Up fund towards the project. The transformation is set to include refurbishment of the Prince of Wales Theatre, business workspace and a new “northern gateway” into Cannock. In addition, the Centre will benefit from a new pedestrianised crossing linking it directly to a to-be refurbished Beecroft Road Car Park, Cannock’s principal town centre car park. Outline planning permission has been granted and the delivery of phase one started in January 2025. For further information see here.
Description
The property comprises two retail units.
Unit 6 is arranged on ground floor only whilst Unit 7 has a ground floor sales area with the first floor providing ancillary/staff accommodation.
The property benefits from a rear service area, accessed via Stafford Road.
Accommodation
The property has been measured by BKR Floor Plans and provides the following net internal floor areas:
| Unit 6 (K Trimz) | ||
| Net Frontage | 5.18 m | 17’0” |
| Gross Frontage | 5.64 m | 18’6” |
| Zone A | 31.59 sq m | 340 sq ft |
| Zone B | 5.57 sq m | 60 sq ft |
| ITZA | 370 | |
| Ground Floor Total | 37.16 sq m | 400 sq ft |
| Unit 7 (GJD Jewellers) | ||
| Zone A | 40.60 sq m | 437 sq ft |
| Zone B | 34.65 sq m | 373 sq ft |
| ITZA | 624 | |
| Ground Floor Total | 75.25 sq m | 810 sq ft |
| First Floor | 33.54 sq m | 361 sq ft |
| Total | 108.79 sq m | 1,171 sq ft |
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 £433.00 + VAT.
Rateable Value
According to the Valuation Office website the rateable value for the property is as follows:
| Unit 6 | £8,900 |
| Unit 7 | £25,750 |
The business rates multiplier is 49.9 pence. The seller has appealed the valuations and expects tenants to benefit from lower rates going forward.
Tenure
Long leasehold interest until 22 July 2146 at a peppercorn rent (approximately 122 years remaining).
Tenancies
Unit 6 is let to Mr KY Gardiner (t/a K Trimz) on a full repairing and insuring lease from 27th October 2023, expiring 26th October 2026. The current passing rent is £10,200 per annum (paid monthly), inclusive of service charge (£1,841 in 2024-25) and insurance rent (£130 in 2024-25), but exclusive of business rates.
Unit 7 is let to GJD Jewellers Limited (t/a Chatwin Jewellers) guaranteed by Greg Dent, on a full repairing and insuring lease for a term of 10 years from 4th July 2016, expiring 3rd July 2026. The current passing rent is £30,000 per annum (paid monthly).
Therefore, an investor will benefit from a gross income of £40,200 per annum or a net income of £38,251 per annum.
Service Charge
The service charge for 2025 was £11,927, reflecting £7.59 per sq ft / £81.60 per sq m. Please note that the service charge for Unit 7 is fully paid by the tenant. Please refer to the service charge information in the data room.
VAT
The property has been opted for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Market Evidence
27-29 Market Hall Street, in close proximity to the subject property, was sold by Singer Vielle in October 2024. The property is let at £60,000 per annum and was sold for £602,500 reflecting a net initial yield of 9.48%.
Proposal
We are instructed to seek a figure of £285,000 (Two Hundred and Eighty Five Thousand Pounds), subject to contract, reflecting a net initial yield of 13%, assuming purchasers’ costs of 3.12%.
Please note that a purchaser will be re-charged the costs of the measured survey (£433 + VAT) and searches (£116.02) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT.
Investment Considerations
An opportunity to acquire a high yielding retail investment;
The property occupies a prominent retailing pitch at the entrance to the Cannock Shopping Centre;
Let to two established independent retailers;
Attractive net initial yield;
Attractive lot size to an investor;
Singer Vielle Finance Services:
Contact our team if you are seeking senior debt, bridging finance or development finance.
Contacts
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Singer Vielle
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Vendor's Solicitor Firm
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All Properties are listed subject to contract and the prices shown are exclusive of VAT if applicable.
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