1 - 11 Queen Street, Amble, NBL

The property comprises an end terraced building of steel portal frame construction with blockwork walls and outer stonework and render under a flat/pitched slate roof. The property is arranged over two storeys and totals around 10,256 sq ft.
The property is located fronting Queen Street at the western end of Amble's main shopping pitch, which is anchored by Boots and Tesco Express. Amble itself is one of the principle towns of Northumberland, around nine miles south of Alnwick and 15 miles north of Morpeth.

Sale Notes:
The investment opportunity comprises a well located, purpose built supermarket let to Leathleys Quality Fare Ltd for a further 12.75 years with a guarantee from United Cooperatives Ltd (now Cooperative Group Ltd).
Offers for the freehold interest are sought in the region of £1,390,000, which would reflect a net initial yield of 5.75% after purchasers costs of 5.8%, with reversionary yields of 6.67% in August 2014 and 7.73% in August 2019.
The entire property is let to Leathleys Quality Fare Limited with a guarantee from United Cooperatives Limited (now Cooperative Group Ltd) for a term of 20 years from the 20 August 2004 at a rent of £84,627 per annum. Reviews are to the higher of OMV or 3% pa compounded. The rent therefore will increase to a minimum of £98,106 pa in 2014 and £113,732 pa in 2019.