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Property Ref: 28969

Freehold Retail Investment - For Sale In Peterborough

20 year lease to DP Realty Ltd


94 Bridge Street, Peterborough, PE1 1DY
Available
1,991 SQ FT (185 SQ M)
Freehold Price £730,000



Enquiry about this Property

Property Type

Retail Investment

Tenure

Freehold

Price

£730,000

Gross Annual Income

£35,000 pa

Gross Yield

5%

Location

Peterborough is an important Cambridgeshire city with a population of some 134,000. The city is located some 73 miles north of London and 35 miles north-west of Cambridge. Road communications are good with the A1(M) immediately to the west. Peterborough was designated a New Town in 1967. The property is situated on the west side of Bridge Street just south of its junction with Bourges Boulevard, close to the entrance of the Rivergate Shopping Centre where occupiers include Peacocks, Comet, Iceland, etc. A short distance to the north is the continuation of Bridge Street which is the prime retailing area of the town where branches of Marks & Spencer, New Look, Mothercare and Specsavers, amongst others, are located.

Description

The subject property is an 18th Century building that had been extended to the rear. The property is arranged on ground and one upper floor to provide a ground floor shop unit which is presently arranged to provide a restaurant and customer toilets on the first floor and an attic above. The property has the benefit of a rear service yard shared with the Rivergate Centre.

Accommodation

** The property has not been inspected by Telsar Ltd
Ground Floor Retail** 1,991 sqft 184.97 sqm

Investment Considerations

6 week completion
Gross income £35,000 pa
Gross yield 5%
20 year lease
Let to DP Realty Ltd (Dominos Pizza)
Lease expires 2036
5 yearly rent reviews

Tenancy

Let to DP Realty Limited¹ for a term of 20 yrs from 23 May 2016 with 5 yearly rent reviews. Break clause on 23 Nov 2026.

¹ For the year ended 25 Dec 2016, DP Realty Ltd, reported a turnover of £22.479m with a pre-tax profit of £2.133m.

VAT

VAT payable

Legal Costs

Each party to bear their own legal costs.

Misrepresentation

Telsar Ltd and its joint agents, give notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Telsar Ltd or its joint agents, has any authority to make any representation or warranty whatsoever in relation to this property. All rentals and prices are quoted exclusive of VAT.