Retail premises for sale

Investment Consideration:
Gross Initial Yield: 10.00%
Rental Income: £17,000 p.a.
VAT is applicable to this property
Comprises triple fronted ground floor shop t/a Betfred
Occupiers close by including Halifax, Lloyds, Costa Coffee and more.

Property Description:
Comprises triple fronted ground floor shop with ancillary at basement, providing the following accommodation and dimensions:
Ground Floor: 90 sq m (974 sq ft)
Open plan retail, office, wc
Basement: Not inspected

Tenure:
Long Leasehold. Held on a 999 Year lease from 13th January 2006 at a ground rent of peppercorn.

Tenancy:
The property is at present let to Done Brothers (Cash Betting) Ltd* t/a Betfred for a term of 5 years from 24th June 2022 at a current rent of £17,000 p.a. And the lease contains full repairing and insuring covenants. Annual tenant option to determine on 23rd December each year with min 6 months notice.

*For the year ending 25.9.2022 Done Brothers (Cash Betting) Ltd reported a turnover of £418.4m, a pre-tax profit of £40.4m and a net worth of £77.795m (Source: Experian 1.3.24)

Location:
Dewsbury is located 9 miles south of Leeds and 33 miles north west of Manchester. The A638 provides access to the M1 motorway (J40) and the A644 links to the M62 motorway (J28). Dewsbury Railway Station is located 360m from the property with services to London Kings Cross (journey time 3 hours 58 minutes). The property is situated on the north side of Westgate at its junction with Daisy Hill and Church Street with occupiers close by including Halifax, Lloyds, Costa Coffee, Boots and Specsavers