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109-111 South St 8,233 sq ft 100% Let Retail Property St Andrews KY16 9UH £3,250,000 (£394.75/sq ft) 5.56% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Total passing rental income of £192,500 per annum
- Fully let to Trespass and PizzaExpress both of whom have been in long term occupation
- Weighted Average Unexpired Lease Term to expiry in excess of 10.6 years
EXECUTIVE SUMMARY
Instructed to seek offers in excess of £3,250,000 exclusive of VAT for our client’s heritable interest subject to and with the benefit of the existing leases. A purchase at this level would reflect a net initial yield of 5.56% after allowing for Scotland’s Land and Buildings Transaction Tax (LBTT) and standard purchaser’s costs. Alternatively, the vendor may consider separate offers for each demised property
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
8,233 sq ft
Year Built
1780
Price
£3,250,000
Price per sq ft
£394.75
Yield
5.56%
NOI
£180,700
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
2.74
Total Plot Size
0.07 ac
Frontage
34 ft on South Street
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109-111 South St
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