Co-op Food & 2 Flats, Bromsgrove

Property Description

• Freehold Blue-Chip Convenience Store & Residential Investment on a large plot.
• Ground floor sales unit of 4,097 sq ft with 2 self contained flats on the first floor.
• Large 0.3 acre site which includes 19 car parking spaces.

Location Description

• Bromsgrove is a town in Worcestershire located some 13 miles south-west of Birmingham and 16 miles north-east of Worcester.
• The property is situated in a prominent position within the village of Catshill, a predominantly residential area some 2.5 miles to the north of Bromsgrove town centre.
• Catshill benefits from good road communications being located close to the A38 and intersection of the M5 and M42 motorways.
• Catshill Baptist Church and Catshill First School are located close by.

Tenancy & Additional Information

• Let to Co-operative Group Food Ltd on an FR&I lease until October 2030 (no breaks) at a passing rent of £68,038 p.a. with 5 yearly index linked rent reviews subject to a Cap & Collar of 4%-1% p.a. compounded.
• First floor flats let on ASTs from June 2022 for a total rent of £15,000 p.a.
• The site may have longer term redevelopment potential, subject to the existing lease and obtaining all the necessary consents. All enquiries should be made with Bromsgrove District Council. Website: www.bromsgrove.gov.uk
• The Co-op is the UK’s fifth biggest food retailer with more than 2,500 stores. (source: www.coop.co.uk). For the year ended 02.01.2021 Co-operative Group Food Limited reported a turnover of £8,081,300,000, pre-tax profit £180,100,000, shareholders funds of £1,921,300,000 and a net worth of £1,418,000,000 (Source: Experian 03.05.2022).