High yielding retail investment in Truro

The property comprises a high yielding retail investment occupying a prime pedestrianised pitch. Arranged as a ground floor retail unit and associated upper parts, the property is fully let to Nationwide, a longstanding occupier of 25 years, on a recently renewed five-year lease expiring 23.11.2029 and paying £56,000 per annum. Heads of terms are agreed for a five-year reversionary lease, to commence at the expiry of the current lease, therefore extending the term to expire 23.11.2034. The property occupies a prime pitch fronting the pedestrianised Pydar Street, one of the principal retail streets in the heart of Truro. The street is characterised by national retailers including Boots, TK Maxx, New Look and Pandora. Freehold investment let at £56,000 per annum. Tenancy details for Nationwide Building Society include a D&B rating of 5A1, a turnover of £18.9bn (2025), and a pre-tax profit of £2.3bn (2025). The property is elected for VAT, and it is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).