Summary
A rare opportunity to purchase a large freehold property with established national tenant in occupation for nearly 60 years. Boots have been in this location since 1967 and are currently paying £60,000 + VAT pa on an FRI lease. Nantwich is an affluent market town located in south
Cheshire and is home to a mix of national retailers and independent boutique operators. The building is a two-storey property of brick elevations and flat roof surfaces with rear loading yard and service bay. Swine Market is a busy and popular location with heavy footfall with a large pay and display car park directly behind. An income of £60,000 reflects a gross yield of 8.3% against the asking price of £725,000. Internally the property briefly comprises a large sales area, dispensary room, consultancy room, stockroom and managers office on the ground floor. On the first floor are two separate stockrooms, staff kitchen, ladies changing room and gent WC. Please note that viewings can only be arranged through Rory Mack Associates by pre-arranged appointment.
Key Points
Two storey freehold available with FRI lease at £60,000 pa until September 2029National tenant established in this location since 1967Total NIA: 4,485 sq ftEPC: Band C (66)
Services
All main services are connected. No services have been tested by the agents.
VAT
The sale price is subject to VAT.
Tenure
Available freehold, subject to contract and with the benefit of the existing FRI lease.
Business Rates
Rateable Value: £51,000
The tenant is responsible for payment of any business rate liability where applicable.
Tenancy Details
The whole property is let to Boots UK Limited (Company No. 00928555), T/A Boots at £60,000 pa on an FRI lease from 6th September 2019 for 10 years. A copy of the lease is available upon request.
Anti Money Laundering Regulations
In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the responsibility of the applicant. Where appropriate we will also need to see proof of funds.
Location
Swine Market is a busy and bustling street in the centre of Nantwich, an affluent market town with growing population. Nantwich is 5 miles west of Crewe and 20 miles south east of Chester. The M6 at junction 16 is 9 miles away from the property.