Co-op, Stafford Street, Telford TF2 9JQ
AP Investment has completed the sale of a convenience store investment in St Georges, just north of Telford town centre.
The original property was significantly converted and extended in 2020. The unit extends to 3,360 sq ft. To the rear of the property is customer parking for 9 vehicles.
The property is let to Co-operative Group Food Ltd on a 15 year term from 20 November 2020.
The passing rent is £55,000 per annum. There are 5 yearly CPI rent reviews, compounded annually with a collar and cap of 1% & 3%.
The investment was purchased by a private investor for £1,068,000, reflecting a net initial yield of 4.87%.
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