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159 Old Rd 575 sq ft Retail Property Clacton On Sea CO15 3AU £249,000 (£433.04/sq ft) 5.75% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent Business Location
- High Ceilings
- Solid Transport Links
EXECUTIVE SUMMARY
Freehold offers in the region of £249,000 are sought for the benefit of this valuable interest. A sale at this level would reflect a net initial yield of 5.75% having regard to a purchasers costs. The property is held by way of a lease to Mr P Cook trading as Dial A Pizza for a term of 5 years from 01/09/2022 at a passing rent of £15,000 pax. The lease includes a rent review in 1/9/25.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Retail
Property Size
575 sq ft
Costar Property Class
C
Year Built
1960
Price
£249,000
Price per sq ft
£433.04
Yield
5.75%
NOI
£14,318
Tenancy
Single
Number of Floors
1
Plot ratio
0.06
Total Plot Size
0.20 ac
Frontage
22 ft on Old Road
1 1
NEARBY MAJOR RETAILERS
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159 Old Rd
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