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  • A purchase at this level will reflect a net initial yield of 9%
  • Low overall capital value of approximately £30 per sq ft
  • 51,683 square feet of unoccupied space on first and second floors

Full Description

Town centre retail investment with substantial vacant upper parts and a low capital value of approximately £30 per square foot.

The subject property comprises a substantial retail block split into two selfcontained units built over basement, ground and two upper floors. The ground floor provides a well fitted out sales area accessed via an entrance fronting onto Carr Street.

The basement unit has recently benefited from approximately £300k of capital expenditure, and is currently being fitted out as a separate retail unit with access directly off Carr Street. The upper parts are vacant and may be suitable for alternative uses, subject to the necessary planning consents.

The property provides a gia of 102,727 sq ft (9,543.57 sq m) as set out in the accommodation and tenancy schedule.

The property produces a current rent of £300,000 pa, as set out in the accommodation and tenancy schedule.

Viewing
Please contact us on 01473 211933 if you wish to arrange a viewing appointment for this property, or require further information.

Disclaimer
Penn Commercial endeavour to maintain accurate depictions of properties in Virtual Tours, Floor Plans and descriptions, however, these are intended only as a guide and purchasers must satisfy themselves by personal inspection.

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