132/134 West Way, Stafford, 132/134 West Way, Stafford | Property for sale | Savills
Guide price £80,000

132/134 West Way, Stafford132/134 West Way, Stafford

  • New
  • Sole agency
  • Leasehold
Investment
Yield 13%Yield

Key features

  • High Yielding Mixed Use Investment
  • Retail with Residential Upper Parts
  • Rear Garage Included
  • Fully Let to Morrisons Daily
  • Producing £10,000 per annum
  • Lease Expires 29th January 2028
  • Asset Management Potential
  • Guide Price Reflects 12.5% Gross Yield
  • VAT Free Investment

Mixed Use Investment Comprising Ground Floor Shop, Single Flat and Rear Garage Fully Let to Morrisons Daily on a Lease Expiring 29/01/2028 at £10,000 pa

About this property

  • The property comprises a high yielding mixed use investment opportunity let to the established covenant of Morrisons Daily and occupying a pitch within a popular local parade. Arranged as a ground floor retail unit with a single residential unit to the first and second floors and including a separate rear garage, the property is let in its entirety to Alliance Property Holdings Limited (t/a Morrisons Daily). The lease is for a term of 10 years expiring 29/01/2028 and paying a rent of £10,000 per annum. The property offers asset management potential via the outstanding rent review from January 2023. The property forms part of a popular mixed use parade, with a mix of local and national retailers including SPAR. The tenant has a lease over the adjacent property and has combined the units to provide a single retail space, however the adjacent property is not included in the sale. The property also includes a post office and Costa Coffee concession.

Additional information

  • The property is let in its entirety to Alliance Property Holdings Limited (t/a Morrisons Daily). The tenant was formerly McColl's but was purchased and is now part of the Morrisons group of companies. The lease is for a term of 10 years expiring 29/01/2028 and paying a rent of £10,000 per annum. The lease is on full repairing and insuring terms and has an outstanding rent review from January 2023.
  • The tenant has a lease over the adjacent property and has combined the units to provide a single retail space. The adjacent property is not included in the sale.
  • Alliance Property Holdings Limited
  • Turnover (2022) - £463,013,000
  • Total Assets (2022) - £320,900,000
  • Alliance Property Holdings is the holding company for the former 1,100 convenience stores purchased by the Morrisons Group of companies.