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Roadside Retail Passfield Way 12,943 sq ft Retail Property Peterlee SR8 1PX £4,250,000 (£328.36/sq ft) 6.10% Net Initial Yield
Executive Summary
Long Income Supermarket Anchored Roadside Investment Passfield Way, Peterlee, County Durham, SR8 1PX
Property Highlights
• Roadside Investment opportunity recently completed.
• Let to Sainsburys, Greggs & Domino’s amongst others.
• Blend of open market and CPI reviews.
• 12,943 sq ft of accommodation plus electric charging points.
• Annual rent of £265,380 with genuine reversion.
• Asset Management opportunities to further improve income & Value.
• WAULT to expiry of 13.3 years & 12.3 to break.
We have been instructed to seek £4.25m, which will show a net initial yield of 6.1% (2.3% costs) on the basis of an SPV sale or 5.86% after standard purchase costs of 6.54%.
Property Highlights
• Roadside Investment opportunity recently completed.
• Let to Sainsburys, Greggs & Domino’s amongst others.
• Blend of open market and CPI reviews.
• 12,943 sq ft of accommodation plus electric charging points.
• Annual rent of £265,380 with genuine reversion.
• Asset Management opportunities to further improve income & Value.
• WAULT to expiry of 13.3 years & 12.3 to break.
We have been instructed to seek £4.25m, which will show a net initial yield of 6.1% (2.3% costs) on the basis of an SPV sale or 5.86% after standard purchase costs of 6.54%.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Retail
Property Size
12,943 sq ft
Costar Property Class
C
Year Built
1990
Price
£4,250,000
Price per sq ft
£328.36
Yield
6.10%
NOI
£259,250
Tenancy
Single
Number of Floors
1
Plot ratio
0.21
Total Plot Size
1.40 ac
Parking
150 Spaces (11.59 Spaces per 1,000 sq ft Leased)
Frontage
91 ft on Donerston Grove
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Arranged over ground floor only. The unit comprise 1,250 SF.
| Space | Size | Space Use | Position | Available |
| 6 | 1,250 sq ft | Retail | In-Line | Now |
6
| Size |
| 1,250 sq ft |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
6
| Size | 1,250 sq ft |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Arranged over ground floor only. The unit comprise 1,250 SF.
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Roadside Retail | Passfield Way
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