Town centre investment let to Oxfam

Town Centre Investment let to Oxfam with a gross yield of 9.5%. The property occupies an excellent trading position in the pedestrianised section of the town centre, opposite Peacocks and amongst other multiple traders such as Santander, Poundstretcher, TUI, Greggs, Costa Coffee and Cancer Research. In addition, the property is close to the junction with Market Place which hosts other traders including Boots and Superdrug as well as a Street Market. Loughborough is a busy town lying some 12 miles north of Leicester and 21 miles south-east of Derby with excellent road access via the A6 which links to the M1. The property is a mid-terraced building comprising a ground floor shop with internal and separate rear access via a front communal passageway to ancillary office and store rooms on the first and second floors. The accommodation includes a ground floor shop with a gross frontage of 16'3", internal width of 14'1" widening at the rear to 16'1", shop depth of 43'3", and built depth of 46'1". The first floor provides an office and store area of approximately 325 sq ft together with a WC. The second floor provides an office and store area of approximately 425 sq ft. The tenure is leasehold for a term of 2,000 years from 25th December 2017 at a peppercorn ground rent. The property is let on a full repairing and insuring lease to Oxfam, who have over 500 branches, for a term of 5 years from 26th March 2011 and are holding over in occupation since 1986 at a current rent of 16,540 pounds per annum exclusive, noted as a personal concession from an original 18,300 pounds per annum. There is potential to convert the upper floors to residential use subject to obtaining possession and the necessary consents. VAT is applicable to this lot.