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2 Grove Rd S 455 sq ft Retail Property Southsea PO5 3QT £140,000 (£307.69/sq ft) 7.90% Net Initial Yield
Investment Highlights
- Excellent connectivity
- Close proximity to local amenities
- Strategic location
Executive Summary
Sale of the freehold, with a guide price £140,000 stc. A ground floor retail unit which is fully let on a 10 year lease. Passing rent £11,500 for two years, rising to £12,000 paxA purchase at this level would reflect a NIY of 7.9% and a reversionary yield of 8.25% based on the stepped rent pax.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
455 sq ft
Costar Property Class
C
Year Built
1899
Price
£140,000
Price per sq ft
£307.69
Yield
7.90%
NOI
£11,060
Tenancy
Single
Number of Floors
3
Frontage
21 ft on Grove Road South
Amenities
- Bus Route
- Security System
- EPC - C
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Nearby Major Retailers
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2 Grove Rd S
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