Six Trade Counter Units Let to Topps Tiles
- Opportunity to acquire a south east focused portfolio of well-let trade counter units.
- 6 prominent trade counter units totalling 50,517 sq ft (4,693.1 sq m)
- Situated in strong towns/cities within established trade locations
- Topps Tiles have continued to pay their rent throughout the lockdown period
- All units let to the secure covenant of Multi Tile Limited (t/a Topps Tiles)
- AWULT of c.5 years unexpired (certain)
- Total passing rent of £638,680 per annum
- All leases subject to annual RPI lined review with a minimum uplift of 2.5% with the exception of Glasgow which has a minimum of 2% uplift
- All properties held on Freehold/ Heritable interests
- We are instructed to seek offers in excess of £8,515,000 (Eight Million, Five Hundred and Fifteen Thousand Pounds),subject to contract and exclusive of VAT
- A purchase at this level provides a Net Initial Yield of 7.00%, which will rise every year in accordance with the fixed rental increases.