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25 Southgate 2,405 sq ft 100% Let Retail Property Sleaford NG34 7SY £385,000 (£160.08/sq ft) 9.97% Net Initial Yield
INVESTMENT HIGHLIGHTS
- The property occupies a prime position along Southgate in the centre of the market town of Sleaford.
- The retail unit benefits from a prominent shop frontage onto busy Southgate in the town centre.
- This property comprises a ground floor retail unit with three flats above.
EXECUTIVE SUMMARY
25 Southgate is let to Hass Barbers Ltd (with personal guarantee) for a term of 10 years from 1 December 2023 at a rent of £18,000 plus VAT per annum with provision for a rent review at the end of five years. The three flats are let on AST’s and produce an income of £20,400 per annum. The total rent roll for the property is £38,400per annum.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
2,405 sq ft
Costar Property Class
C
Year Built
1900
Price
£385,000
Price per sq ft
£160.08
Yield
9.97%
NOI
£38,400
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
0.79
Total Plot Size
0.07 ac
Frontage
18 ft on Southgate
AMENITIES
- EPC - C
- Storage Space
1 1
NEARBY MAJOR RETAILERS
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25 Southgate
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