Retail for sale - Convenience Store Investment For Sale, Clyde Road, Frampton Cotterell, BS36 2EF

<strong>Description</strong><br>The property has been constructed in accordance with the planning consent granted by South Gloucestershire Council under reference P21/08109/F on 9th December 2023. A copy of the permission is available upon request.<br /> <br /> The convenience store has been designed and constructed to reflect the characteristics of the immediate location, incorporating a mixture of stone and rendered brick construction, providing the local community with a vital amenity. <br /> <br /> The property has reached practical completion (21 November 2025) and the tenant has now taken possession of the property for fitting out, with opening of the store scheduled for early December 2025.<br><br><strong>Accommodation</strong><br>The premises comprises of a retail unit measuring 3,767 sq. ft (350 sqm) GIA plus 11 dedicated car parking spaces at the front with delivery solution.<br><br><strong>Tenure</strong><br>The freehold interest is being sold.<br><br><strong>Tenancy</strong><br>The property is let on a new Full Repairing and Insuring lease to Co-operative Group Food Limited for a term of 15 years term certain, with an option to renew, at a commencing rent of £110,000 per annum, with 5 yearly rent reviews in line with the Consumer Price Index (CPI) subject to a collar and cap of 1% and 3%.<br /> <br /> The tenant will benefit from a 6 month rent free period. This will be ‘absorbed’ by the Vendor and will be dealt with by way of an adjustment to the purchase price on completion.<br><br><strong>Covenant</strong><br>The Co-operative Group Food Ltd (Company Number: 26715R) is the UK’s 5th largest food retailer and a wholly owned subsidiary of The Co-operative Group Ltd which was established in 1844 and now operates 4,500 outlets with approximately 90,000 employees and an annual turnover in the order of £10.50 billion.<br /> <br /> The tenant is therefore considered an undoubted covenant capable of meeting their lease obligations.<br><br><strong>Rating</strong><br>The commercial unit’s Rateable Value will be assessed upon completion of the development.<br><br><strong>EPC</strong><br>The Energy Performance Certificate will be provided on completion of the tenants fit out works.<br><br><strong>Pricing</strong><br>We are instructed to seek offers in excess of £1,850,000 (One Million Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 5.6% after allowing for the usual purchaser’s costs.<br><br><strong>VAT</strong><br>The property is elected for VAT and therefore VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a TOGC.<br><br><strong>Anti-Money Laundering Regulations</strong><br>In accordance with Anti-Money Laundering Regulations, the preferred purchaser will be required to provide identification and proof of address, prior to exchange.<br><br>