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Towngate Retail Park St James St 20,093 sq ft 100% Let Retail Property Newport PO30 5HF £2,560,000 (£127.41/sq ft) 8.25% Net Initial Yield
Investment Highlights
- Towngate Retail Park is highly prominent and sits within the main retail warehouse cluster on the island
- Let to established national retailers; Halfords, Snap Fitness and Benson For Beds
- The subject property is situated in Newport, the administrative centre of the Isle of Wight
- The property totals 20,093 sq ft producing a net rental income of £224,920 pa, reflecting a low average rent of £11.65 psf
Executive Summary
The freehold of this retail warehouse investment opportunity is available for the guide price of £2.56 million providing a yield of 8.25%.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront
Property Size
20,093 sq ft
Costar Property Class
B
Year Built
1981
Price
£2,560,000
Price per sq ft
£127.41
Yield
8.25%
NOI
£211,200
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.34
Total Plot Size
1.37 ac
Parking
90 Spaces (4.48 Spaces per 1,000 sq ft Leased)
Amenities
- Security System
- Storage Space
1 1
Nearby Major Retailers
1 of 4
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Towngate Retail Park | St James St
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