Let to:
On assignment from:
FOR SALE Convenience Store Investment in the historic City of York
165-167 Burton Stone Lane, York, YO30 6DG Investment Summary
• Prominent corner location fronting onto Burton Stone Lane, a predominantly residential neighbourhood to the immediate north of the city centre. • A newly refurbished convenience store let to Heron Food Ltd upon assignment from Tesco Stores Ltd. Tesco assigned to Heron Foods prior to opening. • The property is secured on a 20 year lease with a tenant option to break at years 10 and 15. Lease commencement date of 4th December 2014 providing c. 7 years to the nearest termination date. • Passing rent of £50,000 per sq ft (£12.72 per sq ft) with 5 yearly, compounded annually, rent reviews to RPI (0 – 4%). • Freehold. Strong yield compression opportunity due to the recent purchase of Heron Foods by B&M Bargains in Q2 2017. • Seeking offers in excess of £700,000 reflecting a NIY of 6.78% assuming purchasers costs of 5.30%. Let to the strong covenants of • Ideal SIPP purchase. Heron Foods, on assignment from Tesco Stores
York A1(M)