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Armstrong Retail Park Cragside Rd 15,025 sq ft Retail Property Washington NE37 1LN £1,938,000 (£128.99/sq ft) 8.50% Net Initial Yield
Investment Highlights
- Signage
- Prominent location
- Car parking
Executive Summary
INVESTMENT SALE | RETAIL WAREHOUSE PORTFOLIO | ADJOINING B&Q STORES
Park Place Retail are marketing this diverse 3 asset retail warehouse portfolio comprising Victoria Retail Park in Halifax, Armstrong Retail Park in Washington and Berse Road Retail Park in Wrexham. The portfolio has a WAULT to lease expiry of 6.3 years (5.7 years to break), a low average rental rate of £9.55 per sq ft with provable reversion at Wrexham providing for a reversionary yield profile.
Offers are requested in excess of £7,201,000, providing a low capital value of £109.00 per sq ft and the following yield profile:-
8.21% | net initial yield
8.30% | April 2028 running yield based on Wrexham fixed uplift
8.46% | June 2029 reversionary yield based on recent evidence
The properties are available on an individual basis with specific pricing detailed in the respective marketing brochures, which can be provided upon request.
Park Place Retail are marketing this diverse 3 asset retail warehouse portfolio comprising Victoria Retail Park in Halifax, Armstrong Retail Park in Washington and Berse Road Retail Park in Wrexham. The portfolio has a WAULT to lease expiry of 6.3 years (5.7 years to break), a low average rental rate of £9.55 per sq ft with provable reversion at Wrexham providing for a reversionary yield profile.
Offers are requested in excess of £7,201,000, providing a low capital value of £109.00 per sq ft and the following yield profile:-
8.21% | net initial yield
8.30% | April 2028 running yield based on Wrexham fixed uplift
8.46% | June 2029 reversionary yield based on recent evidence
The properties are available on an individual basis with specific pricing detailed in the respective marketing brochures, which can be provided upon request.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Standalone
Property Size
15,025 sq ft
Costar Property Class
B
Year Built
1990
Price
£1,938,000
Price per sq ft
£128.99
Yield
8.50%
NOI
£164,730
Tenancy
Single
Number of Floors
1
Plot ratio
0.65
Total Plot Size
0.53 ac
Parking
52 Spaces (3.46 Spaces per 1,000 sq ft Leased)
Frontage
92 ft on Cragside Road
Amenities
- Bus Route
- Freeway Visibility
- Security System
- Signage
- Storage Space
1 1
Nearby Major Retailers
1 of 3
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Armstrong Retail Park | Cragside Rd
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