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Key Features
Located in an suburb of Portsmouth which benefits from a high density of residential dwelling
Let in its entirety to Southern Co-Operative Limited on a 15 year lease with no break options until August 2034
Current passing rent of £48,038 per annum.
The lease benefits from a rent review of the fifth and tenth anniversary of the lease term commencement date.
The rent is to be reviewed in line with annually compounded RPI uplifts, subject to a cap and collar of 1% and 3%.
Strong Financial Covenant with a D&B Rating of 5A2 and shareholders funds in excess of £80 million.
Opportunity to break up the two terraced houses and maximise returns through letting or sale.
Offers in excess of £650,000 (Six Hundred and Fifty Thousand Pounds) are invited for the freehold interest, subject to contract and exclusive of VAT.
A purchase at this level would equate to a net initial yield of 7.03% rising to 8.15% in August 2029, assuming purchasers costs of 5.18% and 3% pa RPI growth
