Acquired
Barnsley – One Stop Stores
3-29 Neville Avenue, Barnsley S70 3HBFreehold Supermarket & Residential Ground Rent Investment
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
11y 3m
Area
4,366 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises large supermarket at ground floor and six residential flats above, which have been sold on long leasehold
- Total area size of 405 sq m (5,023 sq ft)
- Tenants have been in occupation since 1994
- Rear yard area included
- Occupiers nearby include takeaway, hair studio and barbershop
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises detached block and consist of large supermarket at ground floor and six residential flats above, which have been sold on long leasehold. The property benefits from rear yard.
The property provides the following accommodation and dimensions:
Ground Floor: Supermarket 405 sq m (4,366 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: Supermarket 405 sq m (4,366 sq ft)
Tenancy Description
The Ground Floor Supermarket (No. 7-29) is at present let to One Stop Stores Limited for a term of 15 Years from 25th April 2021 at a current rent of £30,000 per annum and the lease contains full repairing and insuring covenants. Open market rent review on 26th April 2026 and 2031. Option to determine on 26th April 2028 and 2033. Tenant in occupation since 1994
The First/Second Floor Flats have been sold on long leasehold for a term of 999 Years from 29th September 1997 at a ground rent of peppercorn.
The First/Second Floor Flats have been sold on long leasehold for a term of 999 Years from 29th September 1997 at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Barnsley is a large market and college town in South Yorkshire, England. The town is surrounded by several towns and villages, which together form the Metropolitan Borough of Barnsley, of which Barnsley is the administrative centre. The town is on the M1 motorway and Barnsley Interchange. The main transport hub is Barnsley Interchange, a combined rail and bus station that was opened on Sunday 20 May 2007. Stagecoach Yorkshire run most bus services within Barnsley, operating to and from Barnsley Interchange. Occupiers nearby include takeaway, hair studio, barbershop and fish and chips shop.
