Commercial Investment (Business Unaffected)
2A Gas Lane, Tenby, SA70 8AGBack to search results
- £22,000 per annum Rental Income
- NIY - 5.6%, assuming Purchaser's Costs of 4.2%
- Situated opposite Tenby's only Doctors Surgery
- Affluent Coastal Location
- New 10 Year Term
- Let to Regional Pharmacy Chain
|Size||1,429 sq ft|
The property is strategically located opposite the only Doctor's surgery within Tenby, as well as the adjacent Cottage Hospital and Dental Practice. The property is to the North of the town centre, in close proximity to a large surface car park, and within easy walking distance of the beach and shopping amenities within the town.
2A Gas Lane, Tenby, SA70 8AG
The property benefits from the following features.
- Two separate entrances
- GF retail / dispensing area
- Clinic rooms, offices and storage areas
- Pull-in parking bay to front of premises
- Adjacent to large surface car park
We are quoting a sale price of £375,000 which reflects a Net Initial Yield of 5.6%, assuming purchaser's costs of 4.2%.
The accommodation is arranged over 3 floors, providing the following Net Internal Areas:
|Unit||sq ft||sq m|
The freehold interest in the property is available for sale, subject to an occupational FRI lease for a term of 10 years dated 10th January 2019 to Magawell Ltd.
The passing rent is £22,000 per annum. The lease contains an upwards only rent review to open market value upon expiry of the 5th year of the term.
A copy of the lease can be made available to interested parties upon request.
The property is let in its entirety to Magawell Ltd for a new 10 year term commencing 10th January 2019.
Magawell Ltd trades as Evans Pharmacy operating 10 pharmacies across South Wales. Further information is available at www.evanspharmacy.wales
Company accounts for Magawell Ltd are available upon request.
The unit currently benefits from planning consent for A1 / D1 use. We would encourage interested parties to make their own enquiries with the local planning authority in this regard.
The Rateable Value for the subject premises is £15,000.
The valuation Office assessment is available as a download via the BP2 Website.
The property has been graded as 108 (E). The EPC document is available for download via the BP2 website.
VAT & Legal Costs
All prices, premiums and rents are quoted exclusive of VAT.
We understand that the sale can be treated as a Transfer of Going Concern (TOGC).
Each party is responsible for their own legal costs incurred in any transaction.
A link to download a full information pack can be made available to interested parties once a formal expression of interest is received.