42/52 Chapel Walk, Sheffield High Yielding Retail Parade in Regional Retail Centre Investment Summary
Total Page:16
File Type:pdf, Size:1020Kb
Sat Nav Ref: S1 2PD 42/52 CHAPEL WALK, SHEFFIELD HIGH YIELDING RETAIL PARADE IN REGIONAL RETAIL CENTRE INVESTMENT SUMMARY • Sheffield is the foremost retailing centre within South Yorkshire • The property comprises six units located on Chapel Walk, conveniently located between Fargate and Tudor Square • This investment provides the opportunity to purchase a high- yielding parade in a major retailing destination • 74% of income secured to national multiple retailers including Superdrug and Dr.Martens • Long Leasehold Total Net Income: £46,826 per annum Price: £220,000 Triple Net Initial Yield: 2 | Fawcett Mead Retail property expertise Sheffield — 42/52 Chapel Walk 3 | Retail property expertise Retail property expertise TENANCY SCHEDULE TENURE The property is let in accordance with the tenancy schedule below: Long leasehold - expires 2121. Unit Tenant Term (years) Lease start Lease expiry Break Option Rent (pa) Area sq ft 42 Superdrug Stores Plc 10 02/12/2009 01/12/2019 £45,000 1,657 74% of income 44 Michelle Walton 1 13/02/2017 12/08/2018 £12,000 1,220 secured to national 46 Carl Dunne 5 01/06/2017 31/05/2022 01/06/2017 £20,000 1,220 48 Cookshop Clearance Co. Ltd 5 10/07/2013 09/07/2018 £25,000 1,220 multiple retailers 50 Vacant 1,220 52 Airwair International Limited 5 03/06/2015 02/06/2020 03/06/2018 £22,000 1,080 including Superdrug Total £124,000 7,617 and Dr.Martens The property comprises a total of 7,617 sq ft (NIA). Fawcett Mead have not measured the subject property. All areas have been provided by the vendor. There is a head rent payable of £77,174 per annum. The total net current income is therefore £46,826 per annum. 5 | Fawcett Mead Retail property expertise Sheffield — 42/52 Chapel Walk Sheffield - Central EPC An Energy Performance Certificate is available upon request. VAT The property has been elected for VAT purposes. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). PROPOSAL We have been instructed to seek offers in excess of £220,000 (Two Hundred and Twenty Thousand Pounds) subject to contract and exclusive of VAT for our clients leasehold interest in the subject property. A purchase at this level would reflect a net initial yield of 20.75%, assuming purchasers costs of 2.44%. FURTHER INFORMATION Jonathan Mills Joe Baio 020 7182 7489 | 07515 889 649 [email protected] Misrepresentation Act: The particulars in this brochure are believed to be correct, but accuracy cannot be guaranteed and they are expressly excluded from any For indicative purposes only. Title plan available upon request. contract. Designed by Graphic Outlines Ltd 2017 SUBJECT TO CONTRACT Experian Goad Plan Created: 09/03/2017 Created By: Fawcettmead 50 metres Copyright and confidentiality Experian, 2016. © Crown For more information on our products and services: copyright and database rights 2016. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011.