* Freehold
* Retail / healthcare / medical investment
* New leases with guaranteed income for over 5 years
* New 10 year lease to Weldricks
* Strong covenant strengths
* Total rent roll £29, 000 pax
Multi let medical / healthcare investment opportunity with new long term,
secure leases to good covenants.
**Investment summary**
\ - Total passing rent: £29, 000 per annum exclusive
\ - H. I. Weldricks Limited occupy on a new 10 year lease at £19, 000 pax
\ - Naaz Aesthetics on a new 6 year lease from May 2023 at £10, 000 pax
\ - Guaranteed income for at least 5+ years
\ - Weldricks have an excellent covenant strength with a turnover in excess of
£70m, with assets of £17. 8m, and over 70 pharmacies/stores.
\ - Secure, long term income
\ - First floors above Weldricks recently converted to for use of the pharmacy
staff - potential to capture the hidden value at rent review
\ - Long term potential to redevelop the upper floors above Naaz Aesthetics
\ - Popular retailing location
\ - WAULT: (5+ years to break)
\ - 3, 225 sq ft of space in total (approx)
\ - Car park to the rear
Inviting offers in excess of £325, 000 reflecting a niy of 8. 62% after
purchaser's costs of 3. 57%.
**Location**
The property is situated in a very prominent position near to the Greenland
Road (A6102) dual carriageway which forms part of Sheffield's ring road. The
road links Sheffield's Parkway (A630) and the Don Valley Link Road (A6178)
with both roads providing dual carriageway access to the M1 motorway and
Sheffield city centre.
**Description**
The property comprises a three storey building, comprising two retail units on
the ground floor, with upper floor accommodation. Each retail unit benefits
from security shutters, suspended ceiling with LED lighting and an aluminium
framed, double glazed shop frontage. There is a good sized, secure car park to
the rear of the property.
207 Main Street
This is occupied by Naaz Aesthetics and comprises a ground & first floor floor
retail unit. Providing retail on the ground floor with office/storage space
above.
209 - 213 Main Street
Occupied by Weldricks Pharmacy, it comprises a large retail unit, with full
shop fit out, incorporating a large retail area with rear stores and offices.
The upper floors are accessed via the rear and are positioned over both shops.
The upper floors provide accommodation for Weldricks staff, providing 4
bedrooms, kitchen, living area and bathroom, with space for a futher room on
the second floor. We consider the upper floors to provide rental growth and
scope for residential development potential in the future. Plans are available
upon request.
**Lease terms**
Tenant: Naaz Aesthetics Ltd
Term: 6 years Fri from May 2023 (no breaks)
Rent: £10, 000 per annum exclusive
Reviews: Upwards only open market review after 3 years
Tenant: H. I. Weldricks Ltd
Term: New 10 year Fri lease from September 2023
Rent: £19, 000 per annum exclusive
Reviews: Upwards only open market review after 5 years
Break: Tenant break after 5 years on 6 months notice
Total Rent: £29, 000 per annum exclusive. Copy leases available upon request.
The investment provides a secure term certain of over 5 years.
**Covenant information**
H. I. Weldrick Ltd
Weldricks are a 100% family owned pharmacist with over 70 stores around
Yorkshire, Lincolnshire, Derbyshire & Nottinghamshire. Established in 1959.
Turnover: £69. 3 million
Cash at bank: £4. 8 million
Net Assets: £17. 8 million
Naaz Aesthetics Limited
Naaz Aesthetics offer non surgical treatments to the face and body.
Specialising in fillers, Botox and beauty treatments. Darnall is their second
site, having originally established themselves in London.
**Investment proposal**
Inviting offers in excess of £325, 000 reflecting a niy of 8. 62% after
purchaser's costs of 3. 57%.
**Tenure**
Freehold.
**Aml**
Purchasers are required to comply with Anti Money Laundering Regulations.
**EPC**
C (209 - 213) & D (207)
**VAT**
Prices are quoted exclusive of but may be subject to VAT.
**Viewings**
By appointment with the agent below:
Ben Flint
E:
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