Property photos
Auction
From
£800,000
Property for sale
Wellington Street, Aldershot GU11Local area information
Property location
Nearby amenities
- Talavera Junior School 0.2 miles
- Talavera Infant School 0.2 miles
- Aldershot 0.3 miles
- Ash 2.2 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Prime Retail Investment
- Let to Merkur Slots UK Limited
- 14 Years Unexpired
- Producing £75,000 per annum
- Tenant in Occupation for 40+ Years
- 4,845 sq ft (450.1 sq m)
- Medium/Long Term Development Potential (stp)
- Prime Pedestrianised Street
- Guide Price Reflects 9.4% Gross Yield
Strapline
Auction Sale - 18/06/2024
Of Interest to Investors
Retail Investment Opportunity Let to Merkur Slots with 14 Years Unexpired Producing £75,000 per annum
Unit of Approx. 4,845 sq ft (450.1 sq m) Occupying a Prime Corner Pitch on a Pedestrianised Street
Description
The property comprises a retail investment opportunity let to Merkur Slots and located on a prime pedestrianised street.
Arranged across ground and first floors, the property is let in its entirety to the well regarded covenant of Merkur Slots UK Limited on a 15 year lease expiring 01/06/2038 and paying £75,000 per annum. The tenant is a long-standing occupier having been in occupation for over 40 years.
The property presents both an asset management and medium/long term development opportunity with potential to convert the upper parts to alternative uses, including residential (subject to the existing lease and any requisite consents).
Location
The property occupies a prime pitch fronting the pedestrianised Wellington Street in the bustling town of Aldershot.
The property benefits from excellent transport links, including proximity to Aldershot railway station (0.3 miles) providing direct connections to London and surrounding areas.
Tenancy
The property is let in its entirety to Merkur Slots UK Limited on a 15 year lease expiring 01/06/2038 and producing £75,000 per annum.
The lease is on full repairing and insuring terms and includes upward only rent reviews and tenants break options in 2028 and 2033.
Merkur Slots UK Limited
Planning
Whilst there are no extant planning consents, there may be medium/long term potential to convert the upper parts to alternative uses, including residential (subject to the existing lease and any requisite consents).
Indicative plans have been drawn up for a conversion of the upper parts to provide three flats, as well as the creation of an additional floor with a further three flats.
Auction Sale - 18/06/2024
Of Interest to Investors
Retail Investment Opportunity Let to Merkur Slots with 14 Years Unexpired Producing £75,000 per annum
Unit of Approx. 4,845 sq ft (450.1 sq m) Occupying a Prime Corner Pitch on a Pedestrianised Street
Description
The property comprises a retail investment opportunity let to Merkur Slots and located on a prime pedestrianised street.
Arranged across ground and first floors, the property is let in its entirety to the well regarded covenant of Merkur Slots UK Limited on a 15 year lease expiring 01/06/2038 and paying £75,000 per annum. The tenant is a long-standing occupier having been in occupation for over 40 years.
The property presents both an asset management and medium/long term development opportunity with potential to convert the upper parts to alternative uses, including residential (subject to the existing lease and any requisite consents).
Location
The property occupies a prime pitch fronting the pedestrianised Wellington Street in the bustling town of Aldershot.
The property benefits from excellent transport links, including proximity to Aldershot railway station (0.3 miles) providing direct connections to London and surrounding areas.
Tenancy
The property is let in its entirety to Merkur Slots UK Limited on a 15 year lease expiring 01/06/2038 and producing £75,000 per annum.
The lease is on full repairing and insuring terms and includes upward only rent reviews and tenants break options in 2028 and 2033.
Merkur Slots UK Limited
- D&B Rating: 2A1
- Turnover (2023): £181.5m
- Pre-Tax Profit (2023): £4.33m
- Total Assets (2023): £86.3m
- Employees: 1,811
Planning
Whilst there are no extant planning consents, there may be medium/long term potential to convert the upper parts to alternative uses, including residential (subject to the existing lease and any requisite consents).
Indicative plans have been drawn up for a conversion of the upper parts to provide three flats, as well as the creation of an additional floor with a further three flats.
More information
Listed by
Savills - National Auctions
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