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Albion House 16-18A Lime St 21,143 sq ft 100% Let Retail Property Bedford MK40 1LD £850,000 (£40.20/sq ft) 7.68% Net Initial Yield
Investment Highlights
- Investment property.
- For sale £850,000.
- Gated access to car park.
Executive Summary
Investment portfolio consisting of four retail premises to the ground floor and upper floor residential apartments. To the rear of the premises there is gated access to a car park. 16 Lime Street let to Bedfordshire Police on a 10 year lease, from August 2017 at a rental of £22,000 per annum, with break option 18th August 2022. 16a Lime Street let to Vaperz on a 12 year lease from September 2014, at a current rent of £12,000 per annum, with break option 4th September 2019.18 Lime Street let to Games Workshop on a 10 year lease from 25th March 2022 at a rental of £15,000 per annum, with break option 5th year. 18a Lime Street let to Fishmongers on a 5 year lease from August 2020, at an average annual rental of £10,600 per annum. Additionally, there is the income from the ground rents for the apartments, which is approximately £5,250 per annum.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
21,143 sq ft
Costar Property Class
B
Year Built/Renovated
1988/2016
Price
£850,000
Price per sq ft
£40.20
Yield
7.68%
NOI
£65,250
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
3.25
Total Plot Size
0.15 ac
Parking
10 Spaces (0.47 Spaces per 1,000 sq ft Leased)
Frontage
68 ft on Lime Street
Amenities
- 24 Hour Access
- Signage
1 1
Nearby Major Retailers
1 of 4
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Albion House | 16-18A Lime St
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