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50 Cheapside S70 1RU

Status: Available

Type: Retail

Details: Download PDF

High Yielding Rack Rented Freehold Bank Investment

  • Situated in a 100% prime pedestrianised pitch opposite the entrances to the major town centre redevelopment scheme, The Glass Works, and the Alhambra Shopping Centre
  • Let entirely to Lloyds Bank PLC until 24 December 2024, providing 6.5 years unexpired Rebased rental at £115,000 pa and rack rented as evidenced by recent neighbouring lease renewals
  • Tenant has been in occupation for over 40 years with the property comprising the only Lloyds Bank branch in the town centre
  • Freehold
  • Offers invited for the freehold interest in excess of £1,325,000, (One Million, Three Hundred and Twenty Five Thousand Pounds), offering an attractive net initial yield of 8.19%, after purchaser’s costs of 6.01%