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4-6 New St 2,389 sq ft 100% Let Retail Property Honiton EX14 1EY £250,000 (£104.65/sq ft) 8.58% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent retail units
- 3.75 years unbroken income from the retail tenant
- Non-VAT rated property
- Strong retail tenant
- Small and liquid lot size
- Attractive net initial yield
EXECUTIVE SUMMARY
The freehold sale includes two inter-linked retail units on the ground floor and one first floor residential unit.
The properties provide substantial retail and ancillary accommodation with a significant frontage to New Street.
The units occupy a central trading location within this popular market town.
The tenant provides a good covenant and the Clarks brand has been trading from the units for 20 years.
Market rent agreed in May 2023.
The first and second floors of No 4 provide medium-term residential development potential.
Attractive net initial yield.
The properties provide substantial retail and ancillary accommodation with a significant frontage to New Street.
The units occupy a central trading location within this popular market town.
The tenant provides a good covenant and the Clarks brand has been trading from the units for 20 years.
Market rent agreed in May 2023.
The first and second floors of No 4 provide medium-term residential development potential.
Attractive net initial yield.
PROPERTY FACTS
Sale Type
Investment
Property Type
Tenure
Freehold
Property Size
2,389 sq ft
Costar Property Class
C
Year Built
1920
Price
£250,000
Price per sq ft
£104.65
Yield
8.58%
NOI
£21,450
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
0.69
Total Plot Size
0.08 ac
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NEARBY MAJOR RETAILERS
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4-6 New St
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