Paddy Power, 49 High Street, Colchester | Property for sale | Savills
Guide price £350,000(€420,635)

Paddy Power49 High Street, Colchester

  • New
  • Sole agency
Investment
Yield 11%Yield

Key features

  • High Yielding Retail Investment Opportunity
  • Ground Floor Let to Paddy Power
  • 10 Year Lease Expiring 21/04/2034
  • Vacant Upper Parts Offering Development Potential (stp)
  • High Footfall Pedestrianised Street
  • Investment Let at £39,500 p.a. (11.29% GIY on Guide Price)

High Yielding Investment/Development Opportunity Let to Paddy Power on New 10 Year Lease Producing £39,500 pa Upper Parts Offering Conversion Potential (stp)

About this property

  • The property comprises a high yielding retail investment opportunity let to Paddy Power with vacant upper parts. Arranged across ground and three upper floors, the ground floor is let to Power Leisure Bookmakers Limited (t/a Paddy Power) on a new 10 year lease expiring 21/04/2034 and producing £39,500 per annum. The upper parts are currently vacant and provide approx. 5,178 sq ft (481.04 sq m) of accommodation. There may be potential to convert to alternative uses subject to obtaining the requisite consents. The property occupies a prime pitch fronting the pedestrianised High Street, nearby occupiers include Robert Dyas, McDonalds and Spar.

Additional information

  • The ground floor is let to Power Leisure Bookmakers Limited (t/a Paddy Power) on a new 10 year lease expiring 21/04/2034 and producing £39,500 per annum.
  • The lease is guaranteed by Flutter Entertainment Plc and includes a tenants break option in the 5th year.
  • The upper parts are offered with full vacant possession.
  • Power Leisure Bookmakers Limited
  • D&B Rating - 5A2
  • Turnover (2023) - £1.23bn
  • Pre Tax Profit (2023) - £145.9m