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1-5 Vine Parade 4,186 sq ft Retail Property Wivenhoe CO7 9HA £790,000 (£188.72/sq ft) 7.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent Business Location
- High Ceilings
- Solid Transport Links
EXECUTIVE SUMMARY
Freehold offers of £790,000 are sought. A sale at this level would reflect a nett initial yield of 7.5% allowing for a purchasers cost of 5.625%. Shop- Let to One Stop Stores Ltd(Co: 02462858) for a term of 15 years from 30th June 2023 at £29,000 pax subject to five yearly tenant breaks being 30th June 2028 & 2033. There are no rent reviews. Flat 1A -Let at £950pcm to 30-1-26 Flat 3A-Let at £925pcm to 18-3-26 Flat 5A-Let at £930pcm to 29-11-25( includes 3 garages). The current rental income is £62,660per annum exclusive of rates VAT and all other outgoings
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
4,186 sq ft
Costar Property Class
B
Year Built
1970
Price
£790,000
Price per sq ft
£188.72
Yield
7.50%
NOI
£59,250
Tenancy
Single
Number of Floors
1
Plot ratio
0.37
Total Plot Size
0.26 ac
Frontage
18 ft on Vine Drive
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1-5 Vine Parade
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