Neighbourhood Retail Investment £2.0 Million | 6.80% Net ... - Propex

Retail Investment For SaleCoventry | CV4 9AENeighbourhood Retail Investment£2.0 Million | 6.80% Net Initial YieldBannerbrook ParkLocal Centre,Gramercy Park,Banner Lane,Coventry CV4 9AE• Strong location at hub of 1,500 newhouses in popular residential area• Located adjacent to the new localprimary school site• Proven market sectorAlfie Bradshaw’s Fish & ChipsLocal centre retailinvestment with 38% ofthe income secured froma Spar Convenience store• Unbroken 15 year lease terms(excluding Barnardo’s)• Total income: £143,100pa• Site area 1.597 acresBarnardo’sVisit our website www.fhp.co.uk0115 9507577Fisher Hargreaves Proctor | 10 Oxford Street Nottingham NG1 5BG

Retail Investment For SaleCoventry | CV4 9AERESIDENTIALPedestrianCrossingPointPedestrianCrossingPointDAY NURSERY /FAMILY PUBThe PropertyElectricBarrierPedestrianCrossingPointRetail BinStorageRetailCycleStorageUnit No.1TenantTates Limited(t/a Spar)LeaseCommencementLease Length Break Clause Rent pa Reviews08/10/2010 15 years No £54,0004 Indian Takeaway TBC 15 years No £19,0005 Barnardo’s 17/09/2010 10 years No £17,0006/7 Pet Care 19/11/2010 15 years No £36,0008Alfie Bradshaw’sFish & Chips17/09/2010 15 years No £17,100Total £143,100OMRV –upwards onlyOMRV –upwards onlyOMRV –upwards onlyOMRV –upwards onlyOMRV –upwards onlyThe LocationApproximately 4 miles from Coventry city centre and just 15minutes drive from the M42 (NEC junction 6), Bannerbrook Parkalso offers fast access to the M40, M6 and beyond. Birminghamand East Midlands airports are within easy reach, and from Tile Hillrailway station, regular local services run to Coventry station and itsnational mainline services.The DevelopmentUnits 2 and 3 have been sold on a long leasehold basis to thepharmacy. The upper parts comprise 20 apartments, 10 of whichhave already been sold.The TenantsFor the year ending 30.04.09 Tates Ltd reported turnover of £280mwith a pre-tax profit of £1.5m. For the year ending 31.03.10,Barnardo’s reported a turnover of £194m with pre-tax profits of£1.4m with a net worth of over £100m.Further information on the remaining tenants is available upon request.The Service ChargeDetails available upon requestThe ProposalThe freehold is available at a price of £2m – giving a net initial yieldof 6.80%, after costs at 5.75%Interested? CallBen TebbuttT: 0115 841 1142 | M: 07887 787 885 | E: ben@fhp.co.ukVisit our website www.fhp.co.ukProperty Misdescriptions Act 1991 All statements contained within this brochure have been provided in good faith and are understood to be correct. Accuracy in respect of all statements cannot be guaranteed as we rely on information provided andthey do not form part of any contract or warranty and accordingly: 1) Dimensions, distances and floor areas are approximate and given for guidance purposes only. Potential purchasers should satisfy themselves as to the validity of the guide figures given.2) Information on tenure or vacancies is provided in good faith and prospective purchasers should have this information verified by their solicitors prior to purchase. 3) Information on rating assessments, availability of services and Town and Country planningmatters have been obtained by an oral enquiry to the appropriate planning authority. Fisher Hargreaves Proctor do not warrant that there are no connection charges inherent in the availability of services to the unit. Prospective purchasers should obtain writtenconfirmation prior to entering into any contract for purchase or lease. 4) Detailed tests have not been undertaken on services, central heating installations, plumbing installations, electrical installations etc. and purchasers/lessees should undertake independenttests as to the condition of all services and mechanical engineering installations. 5) All guide price and rental figures are quoted exclusive of VAT unless expressly stated to the contrary. E&OE. FHP 03/11.