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4-16 Brook Square, Rugeley

Offers in the Region of £950,000

About this property

DESCRIPTION

The opportunity comprises a large ground floor shop unit with ancillary accommodation on the first and second floor. There are four further retail units with ancillary accommodation on the first floor only. To the rear is a shared service yard accessed from Elmore Lane.

LOCATION

Rugeley, with a population of some 23,000, is a Staffordshire market town situated on the A51 approximately 8 miles south-east of Stafford. The M6, located to the south and west, provides good road links to the national motorway network.

The property is actuation in the heart of the town’s shopping centre on the corner of the pedestrianised Brook Square at its junctions with Upper and Lower Brook Street and Brewery Street.

Occupiers close by include Boots, Greggs, Clintons, Costa Coffee, New Look, HSBC, Barclays, Iceland and Morrisons supermarket.

COVENANT INFORMATION

W H Smith Retail Holdings Ltd (registered company no 00471941) operates in 618 stores across the UK and reported a turnover of £171.131 million for the year end 31st August 2016.

PROPOSAL

£1.1m is sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 7.38% based on a current income of £80,950 per annum after deducting purchasers costs of 5.85%

VAT

We are advised that VAT is applicable on the purchase price, however prospective purchasers should satisfy themselves in this regard.

MONEY LAUNDERING

In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful Purchaser.

Key Features

  • Freehold Investment Opportunity For Sale.
  • Shopping parade comprising 5 shops.
  • Fully let (tenants include W H Smith).
  • Producing £80,950 per annum.
  • Freehold - £950,000, representing a NIY of 8.06% allowing for purchasers costs of 5.69% Freehold Investment Opportunity For Sale

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