An opportunity to acquire a prominent two-storey detached building plus basement totalling 4,463sqft with parking for 5-7 vehicles to the rear. Originally a pub, the property has been let to Co-op for a convenience food store since 13th January 2014 on a straight 15 year lease. There are therefore 3 years, 10 months left on the lease. The current rent being paid is £82,275pa + VAT. Co-op are no longer in occupation, they vacated a few months ago and have taken a lease over 54 London Road at the other end of Farwig Lane.
The options for potential buyers are to:
Take income until the end of the term and then look to relet or occupy the property as it is unlikely Co-op will want to renew / extend their current lease.
Or
Agree a surrender with Co-op now or in the future to suit and then look to relet or occupy.
The property benefits from E use class and is adjacent to Howdens.
