Available
Frome – Texaco, Car Wash & Convenience Store
Portway Service Station, Frome, Portway, Somerset BA11 1QXFreehold Fuel Filling Station, Car Wash & Convenience Store Investment
Price
£1,450,000
Rent P.A.
£92,166
Yield
6.36%
Tenure
Freehold
Lease Term
20 Years
Years Left on Lease
9y 11m
Area
2,368 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Entire property Let to Bestway Retail Limited. Guarantor for lease is Bestway Wholesale Limited.
- Let until October 2034 (No Breaks). Fixed rental increase to £104,277 p.a. in October 2029.
- Comprises Texaco branded fuel filling station, convenience store and automatic car wash
- Situated next to Frome Train Station, with occupiers nearby including B&M, B&Q, Lidl and more.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
Comprises Texaco branded fuel filling station with 4x4 pumps, convenience store and automatic car wash on a plot of 0.55 acres, providing the following accommodation and dimensions:
Convenience Store: 220 sq m (2,368 sq ft)
Open plan retail, offices, storage, kitchen, wc
Convenience Store: 220 sq m (2,368 sq ft)
Open plan retail, offices, storage, kitchen, wc
Tenancy Description
The property is at present let to Bestway Retail Limited with guarantor as Bestway Wholesale Limited for a term of 20 years from 30th October 2014 at a current rent of £92,166.09* p.a. and the lease contains full repairing and insuring covenants. Fixed increase to £104,277.47 p.a. on 30.10.2029 until the remainder of the lease. No breaks.
* The current rent reserved is £81,460 p.a. which rises to £92,166.09 p.a. on the 30.10.2024, the vendor will "top up" the rent by way of allowance such that the purchaser in effect receives £92,166.09 p.a. from completion.
* The current rent reserved is £81,460 p.a. which rises to £92,166.09 p.a. on the 30.10.2024, the vendor will "top up" the rent by way of allowance such that the purchaser in effect receives £92,166.09 p.a. from completion.
Tenancies & Accommodation
Location Description
Frome is a town and civil parish in eastern Somerset, England and lies about 13 miles south of the City of Bath, with the market towns of both Westbury and Warminster sitting 6.5 miles to the East. The property is situated in the town centre next to Frome Train Station, with occupiers nearby including B&M, B&Q, Lidl and more.
