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Heron Foods, 84-88 High Street

High Street
Rhyl, LL18 1UB

Use Class E

3,212 sq ft

£175,000

Use Class

E

Size

3,212 sq ft

Price

£175,000

Marketed by Mason Owen

Last updated 08/04/2021
Heron Foods, 84-88 High Street
Foodstore Investment for Sale

Key Points

  • Located in Rhyl, a popular North Wales Tourist resort
  • Situated fronting High Street, an established retail pitch adjacent to the Job Centre, Reeds Rains Estate Agent in close proximity to the local bus centre
  • Let to Heron Frozen Foods Limited (D&B 5A 2)
  • New lease for a term of 5 years from Jan 2021 with a Tenant's option to break at Year 3
  • Providing a NIA of 6,233 sq ft (579.06 sqm)
  • VAT elected and providing certain criteria are met the sale may be treated as a TOGC
  • Re-based rent £17,500 pa (previous rent £57,500)
  • Offers in excess of £175,000 (subject to contract & exclusive of VAT)
  • Net initial yield 9.80% after purchaser's costs at 2.09%
The premises comprise a single storey building which was previously 2 self-contained retail units, of traditional brick construction beneath a flat felted roof and an adjoining 2 storey brick built building under a pitched slate roof to the rear. The Property benefits from rear servicing off Kinmel Street.

Internally the premises provide ground floor retail space with ancillary space to the rear.  Please note access to the first floor has been removed.
The coastal town of Rhyl is located in North  Wales, approximately 32 miles west of Chester and 30 miles east of Bangor.  The town benefits from excellent communications with the A5 North Wales Expressway, being only 4 miles to the South, which provides access to North Wales as well linking with the national motorway network by the M53 and M56 at Chester.

Rhyl has a railway station lying on the main west coast line, which connects Holyhead with London Euston.  

The town has a resident population of approximately 25,149 persons although this increases dramatically during the summer months as Rhyl is a popular tourist destination with a variety of caravan and camping sites situated along the sea front and inland.

Tenure

Freehold

Accommodation

Accommodation details below:

Dimensions

ftm
Gross Frontage54.0216.5
Net Frontage42.0312.8

Areas

sq ftsq m
Ground Floor Sales3,212298
Ground Floor Ancillary2,097194
First Floor VOID92485.8

Financial

Purchase Price

£175,000

Lease Term

The premises are let in their entirety to Heron Foods Limited for a term of 5 years from 15 January 2021 at an initial rent of £17,500 pa.  The lease is drawn on a full repairing and insuring terms and there is a tenant only break option on the third anniversary of the term subject to 6 months notice.

Prior to the lease renewal in 2021 the passing rent was £57,500 pa.

Rates

Sustainability

Energy Performance Certificate

D
Note: An accurate EPC value wasn't given for this property, please check with the relevant agent or owner for up-to-date information.

Last Updated

08/04/2021

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2021 Completely Property Technology Limited

Mason Owen

Mason Owen

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