Foodstore Property For Sale in Coleford, Gloucestershire, GL16

This property is marketed by:
Colliers

Key Features

• Located in the historic market town of Coleford, the centre of the Forest of Dean in the Wye Valley.
• Coleford is positioned twenty miles south west of Gloucester, twelve miles north of Chepstow and thirty miles north of Bristol.
• A detached 21,433 sq ft (1,991.2 sq m) foodstore with demised car parking.
• Let on an FRI lease to the Midcounties Co-operative Limited until 22nd April 2040, providing over 14 unexpired term.
• The current passing rent is £270,000 pa, which reflects an affordable rent of £14.21 psf. The next rent review is to open market value on 23rd April 2030.
• Central site adjacent to the local retail pitch, Market Square, of 1.22 acres (0.49 hectares).
• Attractive covenant – Midcounties Co-operative Limited.
• The property has an EPC Rating of B.
• Freehold.

Description

We have been instructed to seek offers in excess of £3,620,000 (Three Million, Six Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7.00% , net of standard purchaser's costs of 6.51%.

Location

Coleford is a historic market town located within the Wye Valley, Gloucestershire, on the border between England and Wales. Coleford sits at the centre of the Forest of Dean and is often a base for visitors, anecdotally known by locals as the “Pride of the Forest”. It is located approximately 20 miles (32.3 km) south west of Gloucester, 12 miles (19.6 km) north of Chepstow and 30 miles (48 km) north of Bristol.