Prime Retail Investment

Card Factory 28 Courtenay Street, Newton Abbot Devon, TQ12 2DT

Ref 14856

Category Invest

Type Retail

Status Available

Price/Rent £ 635,000

Size 0 - 0 sq ft
(0 - 0 sq m)

Prime Retail Investment

  • Newton Abbot is a highly affluent market town.
  • The property is situated in a 100% prime position on the pedestrianized Courtenay Street.
  • Major retailers represented on Courtenay Street include Boots, Marks & Spencer, WH Smith, Superdrug and Austins Department Store.
  • There are currently no vacant units in the immediate vicinity.
  • Well configured building.
  • The entire property is let to Sportswift Limited (trading as Card Factory) on a 15 year full repairing and insuring lease from 4th June 2008, expiring 3rd June 2023, at a current rent of £60,000 per annum.
  • Card Factory is the largest card retailer in the UK and currently trades from more than 850 shops.
  • Sportswift Limited have are an excellent covenant with a 5A 1 Dun & Bradstreet rating.
  • Freehold.
  • Offers are sought in excess of £635,000 (Six Hundred and Thirty Five Thousand Pounds) reflecting a very attractive Net Initial Yield of 9%.