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40-41 St. Peters Hl 2,618 SF Retail Building Grantham $472,341 ($180.42/SF) 8% Cap Rate
Investment Highlights
- Market and industrial town
- Established retail occupiers nearby
- Great transport links
Executive Summary
Comprises two-storey retail premises t/a Savers. The property benefits from rear exit and provides the following accommodation and dimensions: Ground Floor: Open plan retail, storage, ancillary. First Floor: Office, staff rooms, kitchen, storage, wc.
The property is at present let to Savers Health and Beauty Limited* for a term of 5 Years from 23rd June 2023 at a current rent of £28,000 p.a. and the lease contains full repairing and insuring covenants. Tenant break option in 2026 NOT exercised. Tenant benefits from 3 months rent free in exchange for not exercising the 2026 break clause. The rent-free is for the period 24.06.26 to 28.09.26. The vendor would top up rent (~£7,000) so the buyer receives the equivalent to £28,000 p.a. from sale completion Tenant in occupation for 20+ years.
*For the year end December 2023, Savers Health and Beauty Ltd reported a turnover of £754,8M, pre-tax profit of £61,2M, shareholders funds of £142,1M and a net worth of £66,5M. (Source: Experian)
The property is at present let to Savers Health and Beauty Limited* for a term of 5 Years from 23rd June 2023 at a current rent of £28,000 p.a. and the lease contains full repairing and insuring covenants. Tenant break option in 2026 NOT exercised. Tenant benefits from 3 months rent free in exchange for not exercising the 2026 break clause. The rent-free is for the period 24.06.26 to 28.09.26. The vendor would top up rent (~£7,000) so the buyer receives the equivalent to £28,000 p.a. from sale completion Tenant in occupation for 20+ years.
*For the year end December 2023, Savers Health and Beauty Ltd reported a turnover of £754,8M, pre-tax profit of £61,2M, shareholders funds of £142,1M and a net worth of £66,5M. (Source: Experian)
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
2,618 SF
Building Class
B
Year Built
1990
Price
$472,341
Price Per SF
$180.42
Cap Rate
8%
NOI
$37,787
Tenancy
Single
Building Height
2 Stories
Building FAR
1.14
Lot Size
0.05 AC
Frontage
22’ on Saint Peter's Hill
Amenities
- Storage Space
1 1
Nearby Major Retailers
1 of 4
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40-41 St. Peters Hl
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