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Iceland, Hunters Row, Stafford ST16 2AD

SECURE SUPERMARKET INVESTMENT LET TO ICELAND WITH ATTRACTIVE YIELD
For sale
  • Secure investment let to Iceland with an attractive yield.
  • Stafford benefits from a wide catchment due to the lack of major conurbations nearby.
  • Located c. 24 miles north of Birmingham and 47 miles south of Manchester.
  • The town is subject to substantial expansion and development by Local Authorities and housebuilders.
  • The next door property (formerly Argos) has received planning consent for a new 120 bedroom Ibis hotel.
  • Prominent town centre position with easy access for both pedestrians and car users.
  • Nearby occupiers include Sainsbury’s, Argos, Home Bargains, Wilko, B&M and Sports Direct.
  • Comprises a supermarket with ancillary accommodation totalling 14,439 sq ft.
  • Virtual Freehold (site of 0.33 acres).
  • Single let to Iceland Foods Ltd (8.8 years term certain).
  • Rent passing of £95,000 pa / reflecting a low rent of £6.58 per sq ft.
  • Iceland Foods Ltd boasts a turnover in excess of £3bn.
  • Long term potential for massing and / or conversion of upper level(s) to residential use (subject to planning).
  • We are instructed to seek offers in excess of £1,300,000 (One Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 6.9% (assuming purchasers’ costs of 6.04%) and a low Capital Value of £95 per sq ft.
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