The Co-Operative, Newton Road, Bovey Tracey, Newton Abbot, Devon TQ13 9DX

The Co-Operative, Newton Road, Bovey Tracey, Newton Abbot, Devon TQ13 9DX

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  • Prime petrol filling station investment

  • Excellent location on the Newton Road, the arterial route to the A38 Devon Expressway and close to Heathfield Industrial Estate

  • Well-presented, recently extended and refurbished unit

  • The property is scheduled to be re-fit with new Co-op blue branding in 2020

  • 3,562 sq ft (inclusive of car wash) with 4 pump stations providing 24 nozzles

  • Freehold site of c. 0.55 acres

  • Sale and leaseback to undoubted covenant of Co-operative Group Food Limited (D&B 5A1)

  • 20 year FRI lease without break from completion of sale

  • Initial rent of £150,000 per annum (£42 psf)

  • 5 yearly upward only CPI reviews (1 - 3% collar and cap)

  • Offers in excess of £2,430,000 (STC)

  • Representing a Net Initial Yield of 5.75%

  • Estimated reversionary yield of 6.66% in the 5th anniversary, 7.73% in 10th anniversary and 8.96% in the 15th anniversary

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