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16 & 17, High Street, Brecon, LD3 7AL
6,703 Sq Ft / Retail / Retail - High Street
Sold - Last updated: 31 March 2017
Prime retail location in busy market town
Strong covenant strength of both tenants, Savers Health & Beauty Limited and St David’s Foundation Hospice Care
Savers Health & Beauty Limited - 5 year lease from March 2015 with break at year 3 at a rent of £22,500 per annum - effective full repairing and insuring terms St David’s Foundation Hospice Care - 10 year lease from September 2015 with a break at year 5 at a rent of £17,000 per annum, increasing to £18,000 per annum from September 2017 - effective full repairing and insuring terms limited by schedule of condition
Total income £39,500 per annum rising to £40,500 per annum in September 2017 Offers invited in region of £415,000 plus VAT for freehold interest. A purchase at this level would show an attractive net initial yield of 9% after allowing purchase costs of 4.75%
Listed Building well located in heart of town
Opportunities for future rental growth and active management of upper floors in any future lease restructure deals
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