Clothing Store NEXT in the County of Staffordshire for Sale, Lease Agreement Ends 2032
Property type: clothing store
Purchase of established rental business
Tenure: 999-year virtual freehold
Location: the county of Staffordshire, UK
• property is located in a town with a population of more than 70,000
• the town centre location
Lettable area: ca. 1,700 m2
Full refurbishment: 2017
Anchor tenant: NEXT (chain of clothing stores)
Occupancy: 100%
Lease Agreement: until 2032 (with tenant’s break option in 2027)
Possibility of renewal: YES
Rent Review: YES
Full Repair and Insure Lease (FRI lease):
• tenant is responsible for all operating expenses including land tax, building insurance, minor repairs, potential renovation of the entire building, etc.
Purchase price: offers in excess of 2,750,000 GBP
(+ closing costs)
Rental Income: 275,000 GBP per annum
(+ indexation linked to inflation)
Yield: 10.0%
