|Energy Performance Rating||This property has been graded as B 47|
McColl's Convenience Store Part Sublet to Wells Pharmacy. Let to a 5A1 Covenant for 16.5 years with no breaks.
The property is situated in Newbiggin-by-the-Sea this is a small town in Northumberland, on the North Sea coast. Once an important port for shipping grain and a coal mining town, it is still a small fishing port making use of traditional coble boats. The unit has good all year round trade and benefits with a seasonal trade boost from the caravan parks in the local area.
- Located in a vibrant coastal village 7 miles east of Morpeth town centre
- Good seasonal trade boost from caravan parks
- Let on overriding lease for 16.5 years with no breaks to the excellent covenant Martin McColl Limited
- Total current rents reserved £33,480 per annum rising to £40,812 per annum in 25th February 2030
- Fixed uplifts at 2% pa throughout
- Offers in excess of £490,000
- Net initial yield of 6.53% with a reversionary yield in February 2025 to 7.21%