This mid terrace retail unit is situated in a prime location in Tenby and let to Peacocks Stores Limited (part of the Edinburgh Woollen Mill Group). The property is let on a full repairing and insuring basis until 24 March 2030. The tenant recently signed an unbroken 13 year lease demonstrating its commitment to the location. The current rent is £48,000 per annum with fixed uplifts in 2020 and 2025 to £55,000 and £60,000 per annum.
Our clients are seeking offers in excess of £950,000 for the freehold interest, reflecting a net initial yield of 4.80% allowing for purchasers costs of 5.59% with fixed uplifts to 5.50% and 6.00%, giving an equivalent yield of 5.8%.
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