Mansfield is a market town located within the county of Nottinghamshire boarding neighbouring North Derbyshire and South Yorkshire, with a population of approximately 100,000 with the vast majority living in Mansfield.
It is 12 miles north of Nottingham, 25 miles north east of Derby and 30 miles south of Sheffield.
The town is accessible off junction 28 of the M1 motorway which is located 6.5 miles south west of the town centre.
Regular trains operate from Mansfield station to Nottingham and London’s St. Pancras.
Typically, it was the home of one of the largest independent breweries and with the recent regeneration of the area in the last 15 years this has resulted in reconstruction of Kings Mill Hospital as one example of the improvements made.
The property is located 1.1 miles south of Mansfield town centre.
The property has a prominent position situated on a busy road and next to a local public house, The Reindeer Inn.
Situated on a busy road a regular bus service picks up and drops off from a bus stop directly in front of the store.
The property consists of a purpose built, modern, single story convenience store adjoining the recently refurbished public house, let to the national food retailer, The Co-operative Group Food Limited.
The development was built in early 2017 and compromises of a 3,509 sq. ft unit and has the benefit 10 exclusive spaces to the front and a further benefit of 25 shared spaces with the public house to the rear.
Rational for Purchase
This is another high-quality new build property, which has strong tenant quality/covenant in the form of the national Co-Operative Group.
This co-operative development is based on Southwell Road West situated next to a public house and also surrounded by houses, which is always an important advantage for a convenience store. Local stores are proving popular when close to residential houses with shoppers using them more regularly.
This investment falls into that category and with our experience of the Co-op as a tenant, we are happy to bring this scheme to investors.
The total syndicated purchase price including costs (stamp duty, legals etc.) is £1,275,000.
It is intended that this syndicate will not raise borrowing, thus we are labelling it an ‘income syndicate’, because of the higher initial yield, which arises simply because there are no borrowing costs.
Its expected that the longer-term prospects are to deliver an excellent income yield over the investment period.
Initial investment is a minimum of £50,000 per investor.