retail property advisors

Porthcawl

Porthcawl investment
Available
Asking price
£215,000
Net initial yield
5.24%
Passing rent pa
£15,000

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%
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