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Forecourt and convenience store investment opportunity

Tottenham Lane, England, United Kingdom

75%

£4.800.000

Special purpose

#12951

Core+, Value-Add

3 Feb 2024

Property Details

Broker

Deactivated

Leasable area

4.23 %

Freehold

1

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

Investment Overview

Highly prominent corner forecourt and convenience store investment opportunity. Located 5.1 miles north of central London. 0.27 acre site comprising 8 petrol pumps, 8 car park spaces and a modern 24-hour convenience store. Let to Co-operative Foodstores Limited, guaranteed by Co-operative Group Limited on FR&I terms for 20 years expiring on 20th June 2027. Current passing rent of £212,436 per annum, with 2% fixed annually received uplifts. The vendor will top-up the rent on sale to the June 2022 uplift of £216,685 pa. 5.2 years term certain with no breaks. Medium-term mixed use residential-led development potential, with capital values in the area achieving in excess of £950 psf.