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One Stop, Cleveland Terrace, Darlington 93-97 Cleveland Terrace & 1-3 Villas croft 5,925 sq ft 100% Let Retail Property Darlington DL3 8HR £675,000 (£113.92/sq ft) 6.60% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 5 min drive from central darlington
- Mixed use building
EXECUTIVE SUMMARY
Investment Highlights
• Convenience Store let to One Stop Stores Limited.
• Long term occupancy with 4 tenancies.
• Annual rent of £46,920 with growth potential.
• 54% of the income to One Stop which is a wholly owned subsidiary of Tesco PLC.
• Low passing rent with value add opportunities.
• We are instructed to seek offers in excess of £675,000 which a net initial yield of 6.6% and a potential reversionary yield of 7.86% after purchaser’s costs of 5.24%.
• Convenience Store let to One Stop Stores Limited.
• Long term occupancy with 4 tenancies.
• Annual rent of £46,920 with growth potential.
• 54% of the income to One Stop which is a wholly owned subsidiary of Tesco PLC.
• Low passing rent with value add opportunities.
• We are instructed to seek offers in excess of £675,000 which a net initial yield of 6.6% and a potential reversionary yield of 7.86% after purchaser’s costs of 5.24%.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Tenure
Freehold
Property Size
5,925 sq ft
Year Built
1900
Price
£675,000
Price per sq ft
£113.92
Yield
6.60%
NOI
£44,550
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Frontage
79 ft on Cleveland Terrace
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NEARBY MAJOR RETAILERS
1 of 2
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One Stop, Cleveland Terrace, Darlington | 93-97 Cleveland Terrace & 1-3 Villas croft
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