Gloucestershire food store handed £3.6m price tag
A freehold food store investment in Coleford, Gloucestershire has been placed on the market with an asking price of £3,620,000, reflecting a net initial yield of 7.00%.
Situated close to the town’s high street, the store extends to a gross internal area of 21,433 sq ft with demised parking and is let on a recently re-geared lease to The Midcounties Co-operative for an unexpired term of 14.3 years.
The asset is located adjacent to a Lidl supermarket, which extends to 16,645 sq ft.
The property produces an annual rent of £270,000 per annum, equating to £14.21 per sq ft.
The historic market town of Coleford is situated in the centre of the Forest of Dean in the Wye Valley. It is located 20 miles south west of Gloucester, 12 miles north of Chepstow, and 30 miles north of Bristol.
Colliers Retail Capital Markets team has been appointed to find a suitable purchaser.