11 Market Place and 5 Derby Street, Leek, Staffordshire ST13 5HH | Property for sale | Savills
Guide price £175,000(€207,129)

11 Market Place and 5 Derby StreetLeek, Staffordshire ST13 5HH

  • New
  • Sole agency
  • Leasehold
Investment
Yield 11%Yield

Key features

  • High Yielding Retail investment
  • Two Retail Units
  • Fully Let to Ladbrokes Betting & Gaming Limited (t/a Coral)
  • Lease Expires 31/01/2027 - Producing £19,500 per annum
  • First and Second Floor Offices Sold Long Leasehold
  • Asset Management Potential
  • Prominent Corner Pitch
  • Guide Price Reflects 11.14% Gross Yield
  • VAT Free Investment

Two Retail Units Fully Let to Coral on a Lease Expiring 31/01/2027 and Paying £19,500 pa Occupying a Prominent Corner Pitch in the Centre of a Market Town

About this property

  • The property comprises a high yielding retail investment opportunity let to the undoubted covenant of Ladbrokes Betting & Gaming Limited (t/a Coral). Arranged across basement, ground, first and second floors, the property comprises two retail units fronting Market Place and Derby Street, the properties are interlinked at the rear to form a single contiguous space with effectively a double frontage. The ground floor and basement is let to Ladbrokes Betting & Gaming Limited (t/a Coral) on a five year lease expiring 31/01/2027 and paying £19,500 per annum. The lease is on effective full repairing and insuring terms and has no breaks. The upper parts comprise office accommodation and are sold off on a long leasehold basis paying a peppercorn rent. The property offers asset management potential and medium/long term development potential as it could evidently be split in the future to provide two retail units (subject to the existing leases and obtaining any requisite consents).