£425,000
(£270.01/sq. ft)
Retail premises for saleCastle Street, Hinckley LE10
1,574 sq. ft
About this property
Double Fronted Unit
Virtual Freehold
£30,000 per annum exclusive
Let to Greggs plc on a fr&I lease for a term of 10-years from 16th May 2025
Upward only open market rent review in the 5 year of the lease.
Description
• Virtual Freehold investment (999 year lease)
• Double frontage unit situated on the ground floor
• Total size of 1574 sq ft
• Greggs have closed their other unit on Castle Street and in the shopping centre to focus on 3-5 Castle Street
Tenancy
• Let to Greggs plc on a fr&I lease for a term of 10-years from 16th May 2025
• The current tenant pays £30,000 p.a
• Tenant only break clause at the 5th year of the lease subject to break penalty of £15,000 (6 months' rent)
• Upward only open market rent review in the 5 year of the lease.
• Greggs plc reported revenue of £1.809b, Pre-Tax profits of £167.7m and net profits £530m (source: Companies House)
Location
• Prime town centre position on Castle Street, one of Hinkley's main retail parades
• High footfall location, benefitting from a steady flow of shoppers, office workers, and local residents
• Close proximity to national retailers including Costa Coffee, Boots, WHSmith, and supermarkets, ensuring strong brand adjacencies
• Excellent visibility with a prominent double shop frontage and strong signage opportunities
• Well-connected transport links, only minutes from Hinckley railway station and major bus routes
Additional Notes
• VAT Applicable (togc will apply)
• Virtual Freehold investment (999 year lease)
• Double frontage unit situated on the ground floor
• Total size of 1574 sq ft
• Greggs have closed their other unit on Castle Street and in the shopping centre to focus on 3-5 Castle Street
Tenancy
• Let to Greggs plc on a fr&I lease for a term of 10-years from 16th May 2025
• The current tenant pays £30,000 p.a
• Tenant only break clause at the 5th year of the lease subject to break penalty of £15,000 (6 months' rent)
• Upward only open market rent review in the 5 year of the lease.
• Greggs plc reported revenue of £1.809b, Pre-Tax profits of £167.7m and net profits £530m (source: Companies House)
Location
• Prime town centre position on Castle Street, one of Hinkley's main retail parades
• High footfall location, benefitting from a steady flow of shoppers, office workers, and local residents
• Close proximity to national retailers including Costa Coffee, Boots, WHSmith, and supermarkets, ensuring strong brand adjacencies
• Excellent visibility with a prominent double shop frontage and strong signage opportunities
• Well-connected transport links, only minutes from Hinckley railway station and major bus routes
Additional Notes
• VAT Applicable (togc will apply)
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Monthly repayment
£2,126 per month
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