Ground Floor Unit B, 27-31 Sankey Street, Warrington, WA1 1XG

  • 6512 sq ft

Prime Retail Investment Property – For Sale

Description

We are pleased to offer for sale a substantial A1 retail tenanted investment property that is currently let to Food Plus Limited, who currently operate from approximately 189 franchise stores across Europe.

The property is situated along the pedestrianized section of Sankey Street in the heart of Warrington Town Centre’s retail core, directly opposite Golden Square Shopping Precinct.

The accommodation is arranged over ground floor only and comprises a substantial open plan retail floor with stores, amenity and loading to the rear.

Food Plus offers the general retail sale of food and household goods and they have been in occupation at the premises since July 2017.  Their mid-term break clause notice has just passed, giving confidence that they are happy with trade in this location.

Location

A retail unit with extensive frontage onto Sankey Street in the heart of Warrington’s retail core.  The property faces Golden Square Shopping Centre, which boasts household brands including Debenhams and Boots.

Neighbouring occupiers include; Poundland, NatWest, Nationwide and Barclays. Nearby the property is a walk-way through to the Old Fish Market, where a variety of coffee shops and restaurants are in situ, including Nando’s, Ask and Café Nero.

Car parking is available within the 1,700 space, 3 level Golden Square multi-storey car park.

Accommodation

Gross Internal Area

Total:   605 m²  6,512 ft²

Services

Mains electricity, water and drainage are connected.

Rates

Rateable Value:  £57,500.

Lease Details 

The property is let on a 5 year Lease from 24 July 2017 at a current rental of £41,200 per annum on a Tenants effectively full repairing and insuring basis (service charge).

Sale Price

£550,000.

Yield & Rental Analysis

A purchase at the above price reflects a gross yield of 7.5%.

The current passing rent equates to just £6.30 psf, offering the opportunity for future rental growth at lease expiry in July 2022.

Tenure 

A new 999 year Lease will be created on completion.

Contact

Rob Bates [email protected]

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Contact Information:

Morgan Williams

Mobile: 01925 414909 Fax: 01925 637619

720 Mandarin Court, Centre Park, Warrington, WA1 1GG