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Waitrose 87-89 Osborne Rd 12,676 sq ft Retail Property Newcastle Upon Tyne NE2 2AN £5,060,000 (£399.18/sq ft) 5.50% Net Initial Yield
EXECUTIVE SUMMARY
• Located in one of Newcastle upon Tyne’s most affluent suburbs
• Highly coveted trading position with frontage onto the Osborne Road in the thriving heart of Jesmond.
• Modern supermarket developed in 2011 and extending to 12,676 sq ft
• Let to Waitrose Limited on a 25 year lease expiring 7th November 2036 providing 11 years term certain
• Passing rent £296,902 per annum with 2.5% per annum compounded fixed 5 yearly uplifts
• Highly coveted trading position with frontage onto the Osborne Road in the thriving heart of Jesmond.
• Modern supermarket developed in 2011 and extending to 12,676 sq ft
• Let to Waitrose Limited on a 25 year lease expiring 7th November 2036 providing 11 years term certain
• Passing rent £296,902 per annum with 2.5% per annum compounded fixed 5 yearly uplifts
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Supermarket
Property Size
12,676 sq ft
Costar Property Class
B
Year Built
2011
Price
£5,060,000
Price per sq ft
£399.18
Yield
5.50%
NOI
£278,300
Tenancy
Single
Number of Floors
3
Plot ratio
0.91
Total Plot Size
0.32 ac
AMENITIES
- Security System
- EPC - B
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
-
- Retailer
- -
- -
-
Jan 0000
Waitrose & Partners’ journey began on the high street in 1904, when Wallace Wyndham Waite, Arthur Rose and David Taylor opened their first shop in Acton. The enterprising trio created a successful business selling what was, at the time, exceptionally varied grocery produce. High standards and keen pricing ensured growth, with Waite focusing on the buying, Rose taking responsibility for accounts and Taylor managing the shop floor. Two years later Taylor departed, leaving Waite and Rose to form, in 1908, the now widely recognised name of Waitrose Ltd.
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
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Retailer | - | - | Jan 0000 |
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Waitrose | 87-89 Osborne Rd
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