For SaleFreehold Retail Investment

82A, High Street, Scunthorpe, North Lincolnshire, DN15 6SA

Description

The property provides a self-contained retail unit arranged over ground, first and second floor levels, providing ground floor retail areas, with ancillary staff and storage accommodation on the upper floors.

EPC Rating: D90

LOCATION

Scunthorpe has a population of circa 76,000 and is located approximately 30 miles south west of Hull and 21 miles east of Doncaster. The town is located at the junction of the A1077 and the A159, 5 miles north of the M180, which links to the M18 at J5, 16 miles to the west of the Town Centre.

The property is situated in a prime location on the High Street, the town’s principal retailing thoroughfare.

The property sits adjacent to Primark, with other nearby occupiers including Sports Direct, Topman, Ernest Jones Jewellers, Superdrug, WH Smith, New Look, B&M Bargains and Poundland.

COVENANTS

Signet Jewellers Limited are the worlds largest retailer of diamond jewellery with over 3,600 stores globally.

In the UK the company trades under the brands H Samuel and Ernest Jones and has 510 stores.

TENANCY

The property is let to Signet Jewellers Limited trading as H Samuel on a 5 year reversionary lease expiring on the 18th November 2026 with a current passing rent of £35,000 per annum.

The lease is drawn on Full Repairing and Insuring terms.

PROPOSAL

The Freehold interest in the property is available at £415,000.

A purchase at this price reflects a Net Initial Yield after standard acquisition costs of 8.09%.

Please note the adjacent property is also available, further details are available on request.

VAT may be payable in addition to the purchase price.

However the Vendors will consider a sale of the property by way of a TOGC.

LEGAL COSTS

Each party is to be responsible for their own legal costs incurred in documenting the transaction.