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Chillingham Rd 2,710 sq ft 100% Let Retail Property Newcastle Upon Tyne NE6 5LJ £925,000 (£341.33/sq ft) 7.06% Net Initial Yield
EXECUTIVE SUMMARY
The key Investment Highlights are:
• Rare Multi-let Neighbourhood Parade in busy suburb.
• Strong tenant demand and rental growth.
• Popular suburb with young professionals, students & families.
• Current passing rent of £69,000pa with rental growth potential.
• WAULT of 7.23 years to expiry & 4.8 to breaks.
We are instructed to seek offers in excess of £925,000 which reflects a net initial yield of 7.06% after purchaser’s costs of 5.66% and a potential reversionary yield of 7.9%.
• Rare Multi-let Neighbourhood Parade in busy suburb.
• Strong tenant demand and rental growth.
• Popular suburb with young professionals, students & families.
• Current passing rent of £69,000pa with rental growth potential.
• WAULT of 7.23 years to expiry & 4.8 to breaks.
We are instructed to seek offers in excess of £925,000 which reflects a net initial yield of 7.06% after purchaser’s costs of 5.66% and a potential reversionary yield of 7.9%.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Size
2,710 sq ft
Year Built
1900
Price
£925,000
Price per sq ft
£341.33
Yield
7.06%
NOI
£65,305
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
1.34
Total Plot Size
0.05 ac
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Chillingham Rd
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