27-31 The Square, Hessle, Hull
North East
Dba311
Tenure: Freehold
Tenancy: Single Let
Investment summary
• Located in the attractive town of Hessle.
• Situated in the prime retail pitch.
• National retailers in the immediate vicinity include Boots, Coral, Halifax and Oxfam.
• Prominent three storey property, totalling 21,615 sq ft, providing ground floor food store with ancillary accommodation above.
• Let to Somerfield Stores Ltd, (trading as The Co-operative) guaranteed by the Co-operative Group Food Ltd.
• Secure income stream with in excess of 25 years unexpired.
• Current rent passing of £339,877 per annum.
• Annual fixed increases of 2.25% providing guaranteed income growth.
• Freehold interest.
• Seeking offers in excess of £5.50 Million reflecting an attractive Net Initial Yield of 5.85%, assuming standard Purchaser’s costs of 5.80% subject to contract and exclusive of VAT.
A purchase at £5.50 Million will provide the following attractive yield profile:
2013 - 5.97% | 2022 - 7.30%
2014 - 6.11% | 2027 - 8.15%
2015 - 6.24% | 2032 - 9.11%
2016 - 6.38% | 2036 - 9.96%
2017 - 6.53% |