Co-operative Group Food, 64 North Road, Kirkburton, HD8 0RW
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£850,000
Jul 2015
Franck Steier Price has recently completed the acquisition of a Co-op Convenience Store on behalf of Wulstan Captial.
The property is located in Kirkburton and comprises a former public house which has been converted to a convenience store.
The property is let to Co-operative Group Food Ltd for a term of 20 years from February 2015. The lease is held on full repairing and insuring terms subject to 5 yearly reviews to RPI collared and capped at 1% – 4% per annum compounded. The current rent is £55,000 per annum.
The purchase price of £850,000 reflected a net initial yield of 6.11% after purchaser’s costs of 5.80.
The vendor was a private investor, represented by GVA.
