|Energy Performance Rating||This property has been graded as C 73|
Well Secured Convenience Store Investment in Affluent London Commuter Town. Let for further 16 years unexpired with no breaks
Camberley is a popular and affluent commuter town situated adjacent to the M3 Motorway (Junction 4) and 35 miles south west of Central London. The M25 (Junction 12) is 10 miles to the north east and the M4 Motorway (Junction 10) is 8 miles north. The town enjoys frequent rail services to London Waterloo with the fastest journey time of 1 hour and 12 minutes. The unit is situated in a densely populated residential location forming part of Dean Parade, a neighbourhood shopping scheme. Occupiers within the scheme and nearby vicinity include a number of independent local occupiers including restaurants, butcher, hairdressers/barbers, pharmacy, youth centre, primary school and MOT garage.
- Well located convenience store investment in an affluent London commuter town
- Situated in a densely populated residential area forming part of a busy neighbourhood shopping scheme
- Trading superbly well in this difficult environment
- Total current rents reserved £33,942 pa rising to £38,403 pa in July 2026
- Unit benefits from a Costa Coffee Machine and the sale of a selection of hot food items
- Let for a further 16 years unexpired guaranteed by the excellent covenant Bestway Wholesale Limited
- Fixed uplifts at 2.25% compounded throughout
- VAT is not applicable
- Rent has been paid in full and on-time with currently no arrears
- Purchase at this level would reflect a Net Initial Yield of 6% with a reversionary yield of 6.8% in July 2026
- Offers in excess of £539,500
The property is a two storey purpose built unit forming part of a neighbourhood retail scheme. The store is arranged on the ground floor with ancillary and staff accommodation to the rear of the property. The sales area provides a range of grocery products, off license, in store bakery, Costa Coffee machine, hot food and an ATM.
The three self-contained flats on the first floor are all sold off on long leases. There is ample customer car parking available adjacent to the unit and a pull in area for the shopping scheme.
|Ground - Sales||1,768 sq ft||164 sq m|
|Ground - Ancillary||665 sq ft||62 sq m|
|Total||2,433 sq ft||226 sq m|
First Floor - Three residential self-contained flats sold off on long leases. Each flat pays a ground rent of £25 p.a. payable to the Headlessee.
Freehold subject to the three flats sold off on long leases.
The whole property is let to Bestway Retail Limited guaranteed by Bestway Wholesale Limited for a term of 20 years from the 11th July 2016 at a current rent of £30,000 per annum. The lease provides for 2.25% per annum compound uplifts every fifth year of the term and contains full repairing and insuring covenants. The vendor will top up the rent to £33,942 per annum from completion until 11th July 2021 by way of a reduction in the purchase price.
|July 2026||£38,403 pa||6.8%|
|July 2031||£43,449 pa||7.69%|
Guaranteed by Bestway Wholesale Limited until Bestway Retail Limited posts two consecutive years’ net profit at Companies House exceeding £10million.
Bestway Retail Limited operates approximately 182 stores and supplies a further 500 (approximately) convenience stores which are operated by other companies.
Further information can be found at: www.bestwaywholesale.co.uk
For the year ended 30th June 2019, Bestway Wholesale Limited (Guarantor) reported a turnover of £1.632bn, a pre-tax profit of £3.199m, shareholders’ funds of £98.749m.
The property has an EPC rating of C73. A copy of the EPC is available on our website.
Anti-Money Laundering Regulations
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
The property is not elected for VAT.
We are instructed to seek offers in excess of £539,500 (Five Hundred and Thirty-Nine Thousand Five Hundred Pounds) subject to contract and exclusive of VAT.
A purchase at this level would reflect a Net Initial Yield of 6% with a reversionary yield of 6.8% in July 2026 assuming purchaser’s costs of 4.85%.
Viewing & Further Information
For further information, or if you would like to arrange a viewing, please contact our agents:
020 7478 9112
020 7478 9113