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Lynas House 12-16 Frederick St 10,551 sq ft 100% Let Retail Property Sunderland SR1 1NA £575,000 (£54.50/sq ft) 12.17% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Modern city centre offices in main professional area.
- Totalling 10,551 ft2 (980 m2).
- Attractive Net Initial Yield 10% overall.
- Opportunity for staged Vacant Possession of FF and SF.
- With development potential STP*.
- Current secure total income £67,973.
- Low Capital Value £64 ft2.
EXECUTIVE SUMMARY
Modern city centre offices in main professional area With development potential STP* Totalling 10,551 ft2 (980 m2) Current secure total income £69,973 Offers in the region of £575,000 plus VAT showing attractive Net Initial Yield of 12% overall Low Capital Value £54.50 ft2 Opportunity for staged Vacant Possession of FF and SF
Lynas House is a modern 3 storey office building located at the junction of Frederick Street and Athenaeum Street within the main professional area.
Occupiers within close proximity include TSB Bank and Grand Central and the property is within walking distance of Sunderland Station which has recently been the subject of a multimillion-pound re- development programme.
Lynas House is arranged over 3 floors and was refurbished in 2009 including replacement of all external windows and the installation of passenger lift serving the first and second floors from a self- contained access lobby.
Lynas House is a modern 3 storey office building located at the junction of Frederick Street and Athenaeum Street within the main professional area.
Occupiers within close proximity include TSB Bank and Grand Central and the property is within walking distance of Sunderland Station which has recently been the subject of a multimillion-pound re- development programme.
Lynas House is arranged over 3 floors and was refurbished in 2009 including replacement of all external windows and the installation of passenger lift serving the first and second floors from a self- contained access lobby.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£69,973
|
£6.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£69,973
|
£6.63
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £69,973 |
| Annual Per sq ft | £6.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Effective Gross Income | |
|---|---|
| Annual | £69,973 |
| Annual Per sq ft | £6.63 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Property Size
10,551 sq ft
Costar Property Class
C
Year Built/Renovated
1973/2009
Price
£575,000
Price per sq ft
£54.50
Yield
12.17%
NOI
£69,973
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
1.51
Total Plot Size
0.16 ac
AMENITIES
- Corner Lot
- Air Conditioning
1 1
NEARBY MAJOR RETAILERS
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Lynas House | 12-16 Frederick St
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