Small 100% prime retail unit in Porthcawl in the middle of the pedestrianised section of John Street
34 John Street
- Situated in a prime location on the pedestrianised John Street
- Other occupiers in close proximity include Peacocks, Card Factory, Greggs and HBOS.
- The investment comprises a ground floor retail unit with the upper floor sold off on long leasehold basis
- Let to Gower Enterprises Ltd on a 5 year full repairing and insuring lease, subject to a Schedule of Condition, from 10th August 2018, expiring 9th August 2023, with a tenant break 10th August 2020
- Gower Enterprises has a 1A1 96% Minimum Risk Credit Rating and a Net Worth of £1.32 Million.
- Rent - £11,000 pa rising to £15,000 pa in August 2019 and to £17,000 pa in August 2020.
- Attractive Small Lot size
- Seeking offers in the region of £215,000 (Two Hundred and Fifteen Thousand Pounds) (exclusive of VAT) equating to a Net Initial Yield of 5.24%, rising to 6.83% in August 2019 and to 7.74% in August 2020, after purchase costs of 2.1%