Brewery Street, Rugeley, Staffordshire WS15 2DY
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High yielding retail, leisure and car park investment.
The property is situated in Rugeley town centre in close proximity to the town’s main retail pitch Brook Square and fronts pedestrianised Brewery Street.
Property extends to 11,745 sq ft on a 0.64 acre site. Externally there is a 43 space car park.
Two longstanding tenants Air Ambulance and Anytime Fitness have been in occupation for an average of 10 years. WAULT of 5.9 years to expiries.
The car park is run by Euro Car Parks on a service agreement. This agreement is currently being renewed.
The total income the landlord currently receives is £90,651 per annum. The expectation is this will increase significantly on conclusion of the new car park agreement.
We are instructed to seek offers in excess of £860,000 (Eight Hundred & Sixty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this price would reflect a net initial yield of 10%, assuming costs of purchase of 5.62%. This reflects only £66 per sq ft on a pro rata capital value basis, after allowing for the car park income.
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