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10 Quality St 1,878 sq ft Retail Property North Berwick EH39 4HP £950,000 (£505.86/sq ft) 5% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Located in the heart of North Berwick
- Unique investment opportunity in sought-after east Lothian town
- Currently let to ARCL NB Ltd
EXECUTIVE SUMMARY
The subjects are let on an FRI basis to ARCL NB Ltd at a rent of £50,000 per annum. An assignation and variation was agreed on 15 April 2024 with the lease expiring 31 October 2042. There is a £12,000 deposit held for the first two years of the lease and the next rent review is 1 November 2026 and 3 yearly thereafter.
Client is seeking offers in excess of £950,000 reflecting a NIY of 5%, assuming purchaser's costs of 5.54%
Client is seeking offers in excess of £950,000 reflecting a NIY of 5%, assuming purchaser's costs of 5.54%
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Property Size
1,878 sq ft
Costar Property Class
B
Year Built
1970
Price
£950,000
Price per sq ft
£505.86
Yield
5%
NOI
£47,500
Tenancy
Single
Number of Floors
3
Plot ratio
0.63
Total Plot Size
0.07 ac
Frontage
23 ft on Quality Street
AMENITIES
- Restaurant
- Signage
- Storage Space
- Smoke Detector
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NEARBY MAJOR RETAILERS
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10 Quality St
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