31-32 High St 11,408 SF 100% Leased Retail Building Brecon LD3 7AN $1,117,069 CAD ($97.92 CAD/SF) 9.55% Cap Rate

The freehold interest is available at £600,000. A sale at this price would represent a net initial yield of 9.55% after allowing for purchase costs of 4.75%.
The ground floor retail unit and basement is let to Peacocks Stores Properties Limited until 31 October 2026. There is a tenant break option on 1 November 2024 that is exercisable on serving 6 months notice. The rent is £50,000 per annum. The lease is granted on effective full repairing and insuring terms subject to a schedule of condition. The first and second floor offices are let to the Woodland Davies Partnership LLP until 12 September 2028 at a rent of £10,000 per annum. There is an outstanding rent review with effect from 13 September 2023 that has not been triggered (time not of the essence). The lease is granted on effective full repairing terms. There is a schedule of condition attached to the lease.
The property was originally two separate buildings that have been combined to form a large retail unit on the ground floor with basement storage and upper floor offices that are separately accessed from the front elevation.
The building is of masonry construction under a slate roof, with a large display retail frontage below a rendered upper floor elevation. The middle section of the building has a flat roof over the ground floor.
The ground floor retail area has a large net internal floor area of approximately 5,142 sq ft (477.7 sq m) plus 392 sq ft (36.4 sq m) office and storage. There is approximately 3,911 sq ft (363.3 sq m) of basement storage over two levels and a goods lift provides delivery access to all floors.
The offices have a net internal floor area of 1,963 sq ft (182.41 sq m) and are arranged over first and second floors.
This property boasts a prominent location in the town centre, establishing itself as a focal point for diverse offerings. Enjoying convenient access to key transportation routes, including easy connections to major junctions, it ensures swift travel to neighbouring areas like Brecon, Hay-onWye, and Talgarth. This strategic positioning positions LD3 7AP as a central hub, catering to both businesses and customers in the dynamic surroundings of the postcode area.