Summary - 10, STATION ROAD LL29 8BU
1 bed 1 bath Retail Property (high street)
Long-lease retail investment with strong initial yield and contracted rent uplift..
Let to William Hill until 2038; FRI lease
A rare freehold-style long lease retail investment on Colwyn Bay’s Station Road, let to William Hill until January 2038 with a current rent of £15,000 pa and a strong gross initial yield of 8.82%. The unit extends to c.1,777 sq ft (GIA) over ground floor retail and a basement ancillary area, with rear access and a standard shop front serving a pedestrianised high street.
The lease is 999 years from completion on a long leasehold basis with peppercorn ground rent and full repairing and insuring covenants. There is an upward-only open market review in January 2033 and a CPI-linked review in January 2028 (cap and collar 2.5%–5% p.a.), which gives a contractual minimum rent of £16,900 pa in 2028. The tenant holds a break option in January 2033 (minimum six months’ notice).
Location is practical for commuting and footfall: adjacent to Colwyn Bay station and close to the A55, surrounded by national operators and local services. VAT is not applicable. Buyers should note the surrounding area scores high for deprivation and very high recorded crime rates—factors that can affect rental demand and re-letting prospects. Broadband is average; mobile signal is excellent and flood risk is nil.
This property suits income-focused buyers seeking immediate cashflow from an established national operator and a clear contractual rent uplift. It will particularly interest investors comfortable buying into a challenged retail centre where hands-off tenancy and long lease protections mitigate management exposure. Prospective purchasers should allow for the local economic context when modelling future growth or re-letting assumptions.
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