Investment Summary

High Street, Selsey, Nr Chichester PO20 0QG

  • Co-Operative Supermarket & Gym Investment
  • Located within Selsey, attractive seaside town south of Chichester
  • Situated fronting Selsey High Street in a densely populated residential area
  • 11,875 sq ft on a site of 1.70 acres
  • Two units together with 114 car parking spaces
  • Long leasehold - 250 years from 29th September 1999, expiring 28th September 2249 at a peppercorn
  • Unit 1 - 9,002 sq ft let to the Co-Operative Group Food Limited
  • 15 year lease from 1st February 2016, expiring 31st January 2031
  • Initial rent of £200,000 per annum subject to 5 yearly CPI reviews (collar 1%/cap 4%)
  • Next review 2021 with a current ERV of £228,973 per annum (assumed 3% increase from July 2018 CPI at 105.8)
  • Unit 2 - 2,873 sq ft let to Dream Fitness Limited
  • 10 year lease from 17th September 2018
  • Initial rent of £20,000 per annum to be topped up by vendor to the headline rent of £30,000 per annum
  • Total rental income of £230,000 per annum
  • Estimated rental value of £259,973 per annum
  • Offers in excess of £3,455,000 (STC)
  • Attractive Net Initial Yield of 6.25% and a Reversionary Yield of 7.04%
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