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46 High St 10,972 sq ft 100% Let Retail Property Dudley DY1 1PN £550,000 (£50.13/sq ft) 10% Net Initial Yield
Investment Highlights
- Town centre
- Excellent visibility
- Strong footfall
Executive Summary
The freehold interest is to be sold subject to the existing tenancies.
Basement & Ground Floor: Let to CeX (Franchising) Ltd on a 10-year lease from November 2024, with a current passing rent of £30,000 per annum. There is a rent review and break date in November 2029.
First & Second Floor: Let to Barclays Bank PLC on a renewal lease, expiring April 2027, with a current passing rent of £25,000 per annum. Barclays have been in occupation since 1988 and recently entered into a new lease that is concurrent with their lease for the adjacent property.
Basement & Ground Floor: Let to CeX (Franchising) Ltd on a 10-year lease from November 2024, with a current passing rent of £30,000 per annum. There is a rent review and break date in November 2029.
First & Second Floor: Let to Barclays Bank PLC on a renewal lease, expiring April 2027, with a current passing rent of £25,000 per annum. Barclays have been in occupation since 1988 and recently entered into a new lease that is concurrent with their lease for the adjacent property.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Office
Property Size
10,972 sq ft
Costar Property Class
B
Year Built
1967
Price
£550,000
Price per sq ft
£50.13
Yield
10%
NOI
£55,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
4
Plot ratio
1.48
Total Plot Size
0.17 ac
Frontage
33 ft on High Street
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Nearby Major Retailers
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46 High St
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