Tesco Express, 99 Dewsbury Road, Ossett, WF5 9NQ
Franck-Steier Price have recently concluded the sale a freehold retail unit let to Tesco Stores Ltd on behalf of a private developer.
The property is located on the Dewsbury Road, which is the main road linking Wakefield and Dewsbury, and comprises a single storey stand alone retail unit of 390.19 sq.m (4,200 sq.ft) with 17 car parking spaces.
The property is let on a 15 year lease to Tesco Stores Ltd from October 2009 at a passing rent of £58,800 per annum. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews to RPI.
The purchaser was a private investor, represented by Allsop, who paid a price of £1,062,500, reflecting a net initial yield of 5.23% assuming costs of 5.7625%.