Savills | Co-operative Investment, Forest Road, Binfield | Properties for sale
Guide price £1,930,000
Offers Invited

Co-operative InvestmentForest Road, Binfield

    Key features

    • Located in the very affluent location of Binfield
    • Former public house extended to provide G.I.A of 4,000 sq ft (323 sq m) and 9 exclusive car parking spaces
    • 20 year lease to The Southern Co-operative Ltd – Undoubted Covenant D&B rated 5A2
    • Unexpired term certain of approximately 15.9 years
    • £92,000pa of rental income from the ground floor convenience store
    • Five yearly upwards only rent reviews linked to RPI compounded – collared and capped at 1% and 4% per annum
    • 800 sq ft two bedroom flat above generating £11,400pa
    • 5.04% Net Initial Yield

    Freehold, subject to an occupational lease of the whole.

    About this property

    • The Co-operative convenience store is situated in a prominent position on Forest Road (B3034), close to the roundabout leading to Terrace Road North. The area is mixed with residential properties interspersed with commercial including Oakmede Village shops which is located 50m to the south and comprises a small cluster of independent retailers.

    Two convenience store investments

    Adam BullasProperty agent

    Local information

    • The property comprises of a two storey detached building with a multi-pitched slate roof, rendered brick elevations and double-glazed fenestration throughout. The property has been extended with a single storey element to the rear.
    • Externally, there is a tarmacadam car park located to the left elevation of the property with 9 lined spaces.

    Additional information

    • The whole building is let to The Southern Co-operative Ltd from 14 August 2015 on a new full repairing and insuring 20 year lease (no breaks) at a commencing rent of £80,350 per annum. There are therefore 15 years and approximately 9 months unexpired. The lease is subject to 5 yearly rent reviews in line with RPI with a collar of 1% and cap of 4%.
    • Based on RPI data for the last 5 years we predict a rental increase in August 2020 to £92,000 per annum.