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127-129 Radford Rd 1,063 sq ft Retail Property Coventry CV6 3BQ £650,000 (£611.48/sq ft) 7.18% Net Initial Yield
Investment Highlights
- Situated on busy main road.
- Ground floor leased to Betfred until 2027.
- Close Proximity to Coventry City Centre.
- Current rental income: £48,620 per annum.
- Surrounded by reputable local occupiers.
- NIY 7.05% assuming costs of 6%.
Executive Summary
The property consists of a double fronted retail unit and 3 residential flats. The retail space is currently let to Betfred until January 2027, at a rent of £27,500 per annum and the flats are also fully let. The total annual rental income is currently £46,700.
The Radford area has seen an attractive 6% growth in residential values within the last 12 months, with the rest of Coventry also seeing overall growth (Source: Nimbus Maps).
The Radford area has seen an attractive 6% growth in residential values within the last 12 months, with the rest of Coventry also seeing overall growth (Source: Nimbus Maps).
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
1,063 sq ft
Costar Property Class
C
Year Built
1910
Price
£650,000
Price per sq ft
£611.48
Yield
7.18%
NOI
£46,700
Tenancy
Single
Number of Floors
2
Frontage
14 ft on Radford Road
Amenities
- Security System
- EPC - D
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Nearby Major Retailers
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127-129 Radford Rd
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