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5 Main St 1,226 sq ft Retail Property Wishaw ML2 7AF £256,000 (£208.81/sq ft) 10.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Large glazed frontage.
- On street parking.
- Roller shutters.
EXECUTIVE SUMMARY
Offers over £256,000 are invited for clients heritable interest with the benefit of the existing lease, a purchase at this level reflects a NIY of 10.50% after purchasers' costs.
Let to Coral Racing Limited on FRI terms, no schedule of condition, the tenant has been in occupation since 2013 with a Passing rent of £27,500 per annum = £23.03/sq ft Zone A, Expiry in August 2029, a tenant only break option in August 2027, subject to six months notice.
six months rental penalty, £13,750, if tenant exercised the break.
Let to Coral Racing Limited on FRI terms, no schedule of condition, the tenant has been in occupation since 2013 with a Passing rent of £27,500 per annum = £23.03/sq ft Zone A, Expiry in August 2029, a tenant only break option in August 2027, subject to six months notice.
six months rental penalty, £13,750, if tenant exercised the break.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
1,226 sq ft
Costar Property Class
B
Year Built
1890
Price
£256,000
Price per sq ft
£208.81
Yield
10.50%
NOI
£26,880
Tenancy
Single
Number of Floors
2
Plot ratio
0.61
Total Plot Size
0.05 ac
Frontage
44 ft on Main St
AMENITIES
- 24 Hour Access
- Roller Shutters
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NEARBY MAJOR RETAILERS
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5 Main St
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