Retail Investment Let to One Stop Stores Limited

Retail investment let to One Stop Stores Limited producing a gross yield of 8% with a 6-week completion. Located close to the junction with Mill Green Road in a residential area, the property is adjacent to both Peartree Primary School and Peartree Lane Doctors' Surgery, and approximately three-quarters of a mile from the town centre and railway station. Welwyn Garden City is a popular Hertfordshire town located approximately 25 miles north of London, benefiting from good road access via the A1(M) (Junctions 4, 5 and 6). A semi-detached building comprising a ground floor shop with internal access to ancillary accommodation on the first floor. Ground floor shop with gross frontage of 20 feet 1 inch, internal width of 18 feet 11 inches, shop depth of 54 feet 9 inches, built depth of 58 feet 9 inches, and an area of approximately 1,000 sq ft. First floor ancillary accommodation with an area of approximately 600 sq ft including a WC, giving a total area of approximately 1,600 sq ft. Tenure is leasehold for a term of 125 years (less 6 days) from 9th September 1992, having approximately 91 years unexpired at a fixed ground rent of £100 per annum. The entire property is let on a full repairing and insuring lease to One Stop Stores Limited (a subsidiary of Tesco and having over 1,000 branches) for a term from 21st February 2025 to 31st July 2037 at a current rent of £17,000 per annum exclusive. Rent reviews are scheduled for 2027 and 2032, with tenant breaks in 2032 and 2037. Note: The adjacent semi-detached unit, which has been trading as One Stop for at least approximately 20 years, interconnects with Unit 1 at ground floor level, but it is not included in the sale.