Well Secured Food Store Investment with Fixed Incr, Iceland, 162-200 Walton Road, Liverpool, L4 4AZ

Well Secured Food Store Investment with Fixed Increases

- The property is located in an established commercial area on the A59, Walton Road approximately two miles north of Liverpool city centre. There are over 700,000 people located within a 3 mile radius of the subject property.
- The property comprises a two storey detached unit of 16,738 sq ft with 60 car parking spaces to the front.
- The property is let to Iceland Foods Ltd, a covenant with a D&B rating of 5A1 indicating a very low risk, until February 2030 resulting in an unexpired term of 13 years (8 years to break). Part of the property has been sub-let to Barnardo’s (who have separate access).
- The current passing rent is £285,027 per annum. The rent is reviewed on a five yearly basis to the greater of open market rental value or the rent with compounded annual increases of 2.5%. The next review is in February 2020.
- Offers in excess of £4,280,000, are invited for our clients freehold interest, subject to contract and exclusive of VAT. This represents a net initial yield of 6.25%, rising to 7.07% in 2020 and 8.00% in February 2025, assuming the tenant’s break is not exercised. We have assumed purchasers costs at 6.55%.