Marine Road, Abergele, North Wales LL22 7PR

Marine Road, Abergele, North Wales LL22 7PR

  • Prominent single let supermarket / retail warehouse investment

  • Located in Abergele, an attractive tourist town situated on the North Wales coast

  • Adjacent to the town’s railway station and immediately behind the main beach

  • The property extends to 14,084 sq ft (GIA) on a large site of 1.4 acres

  • Low site cover just 26%

  • Valuable Open A1 (Food) planning consent

  • Let to The Factory Shop Limited (Cat A CVA Store)

  • 15-year FRI lease expiring 9th April 2027 (7.9 years unexpired)

  • Passing rent of £79,198 per annum (£5.62 psf)

  • Re-based rent down from £226,595 per annum

  • Fixed uplift to £89,605 per annum (£6.36 psf ) from 10th April 2022

  • Freehold

  • Re-development potential for higher value alternative uses (STP)

  • Our client is seeking offers in excess of £750,000 (STC)

  • 10.01% Net Initial Yield, and a Reversionary Yield of 11.34% in 2022

  • Low capital value of just £53 psf

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