Retail premises for sale

Superdrug, 40-42 Meneage Street, Helston TR13

Description

A substantial town centre retail investment in a prominent position on Meneage Street, Helston. The two-storey building has a pitched roof and a substantial glazed frontage. Inside is open-plan sales space, with stores, office and staff facilities on the first floor, all fitted to Superdrug's corporate specification. The second floor provides plant room and stores. In total the property extends to approximately 6,762 sq ft (628.2 sq m). Rear loading is via an area shared with Boots, accessed from The Parade.

The property is let to Superdrug Stores Plc on a full repairing and insuring lease recently extended to 20 May 2031, at a passing rent of £34,000 p.a. The tenant has an option to break in 2029. Superdrug is a UK health and beauty retailer, second on the high street behind Boots, and is wholly owned by A.S. Watson (Health & Beauty UK) Ltd. For the year to 28 December 2024 it reported turnover of £1.63 billion and pre-tax profit of £136.8 million, trading from more than 800 stores.

The freehold is offered at offers over £350,000, reflecting an initial yield of about 9.7%.

Location

Helston is a historic market town in west Cornwall, about 1.5 miles inland from the south coast. It is the recognised gateway to the Lizard peninsula, about 13 miles east of Penzance and 10 miles south-west of Falmouth. The town serves a wide rural catchment and the large workforce at rnas Culdrose. Retail, services and tourism are its mainstays.

The A394 runs west to Penzance and north-east to the A39 for Falmouth and Truro, and the B3297 runs north to Redruth. The nearest main-line stations are Redruth and Camborne, and Cornwall Airport Newquay is about 26 miles away. The property sits on Meneage Street, the town's main retail street, alongside Boots.

Tenure

Freehold