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Investment Property |
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BLACKPOOL – 72 Church Street
Prime pedestrianised location – diagonally opposite M&S*
3 storey building providing retail on ground floor
Let to Greggs Plc until March ‘15
Price: £975,000 Net Initial Yield: 6.4%
Agent: Suttons Commercial
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HORSHAM – Units A–C, Foundry Lane
*South–East multi let industrial investment*
Comprising three units totalling 6,892 sq m (74,187 sq ft)
Let to 3 tenants proving an average weighted unexpired term of
7.1 years to lease expires
Current passing rent of £541,250pa.
Town centre location with long term redevelopment potential –
subject to planning.
Offers in excess of £5,386,000, reflecting a net initial yield: 9.5%
Agent: Strutt & Parker
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NORTHAMPTON – ND House, Lodge Farm Industrial Estate
*HQ Offices – 9+ year unbroken term – 15% site cover*
Refurbished two storey freehold offices (and separate training
centre) – 146 car parking spaces (1:183 sq ft)
Let to Norbert Dentressangle Logistics Ltd with a Guarantee
from Norbert Dentressangle Logistics SAS, expiring May 2021
(no breaks) with upward only OMRV review May 2016.
Price: £1.75m Net Initial Yield: 8.8% Reversionary Yield: 9.45%
Agent: D&P Klein Joint Agent: Budworth Hardcastle
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NORTH SHIELDS – Units D1 & D2, Tyne Tunnel Trading Est
*Good quality, well located industrial investment*
Recently refurbished industrial unit – 1,098 sq m (11,819 sq ft)
Let to North East Brewing Company (trading as Mordue
Brewery) until Nov. '24 with RPI increases.
Offers of £430,000 NIY:10% Reversionary Yield: 12.2 % (Nov.'14)
Agent: WHR Property
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TRAFFORD PARK – CCF Limited, Unit B Guinness Circle
*Prime Trafford Park Industrial Investment*
Modern detached industrial unit with 2 storey office & storage
low site coverage of approx. 35%
Let to CCF Limited (subsidiary of Travis Perkins),since
construction – lease expiring June ‘21
Price: Offers in the region of £1,700,000 Net Initial Yield: 8.25%
Agent: WHR
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OLDBURY – Npower, Birchfield House, Birchley Park
*Well secured, strategically located, prime office investment*
High quality building comprising 1,537 sq m (16,540 sq ft) on
ground & first floors together with 80 marked car spaces
Let to Npower Ltd by way a lease and reversionary lease
expiring on Dec. '17 guarantee provided by International Power
Plc and RWE Npower Plc
Price: Offers in the region of £2,800,000 Net Initial Yield: 8.1%
Agent: Ramsdens
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PAIGNTON – Pembroke House, 266–276 Torquay Road
*Prominently located mixed use building in established location*
60% of the income derived from Tesco Stores Ltd with c.11.5
years unexpired, 34% of the income derived from Day Lewis
Chemists Ltd with over 12 years unexpired.
All the income is RPI linked and uncapped
Substantial Capital Allowances available
Price: Offers in the region of £1,700,000 Net Initial Yield: 6.62%
Agent: Alder King
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SCARBOROUGH – 40 St. Nicholas St. / 14 Newborough St.
*Freehold bank investment–Prominent location–SPV Available*
Ground floor banking hall with office/ancillary accommodation
on 1st, 2nd & 3rd floors & basement
Let to Barclays Bank Plc until April ‘26
Price: Offers in excess of £1,200,000 Net Initial Yield: 5.8%
Agent: Suttons Commercial
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Price Reduction |
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LONDON W2 – 93 Praed Street
*Prime freehold shop with residential upper parts*
Ground floor shop & basement with 3 studio flats above
Let to the Baghdad Café (with sureties) until May '21 (rent rising
from £22k pa to £24k pa in May '14 & rent review in May '16)
Price: £1,050,000 Net Initial Yield: 5.5%
Agent: TK Retail Property Consultants
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Last Week's Properties |
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BOURNEMOUTH – Post Office Road
*Restaurant Investment with Student Accommodation above*
Impressive building providing a recently refurbished ground floor
restaurant, 2 floors above providing student accommodation
Ground floor let to Pizza Express Restaurants until Jan. ’36,
(71% of the income) 1st & 2nd Floors let to Kings School of
English (Tuition) Ltd) t/a Kings Colleges Bournemouth on a new
15 year RPI lease from Jan ‘12
Price: Offers in the region of £2,075,000 Net Initial Yield: 5.75%
Agent: Philips Lockhart
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LUDLOW – Foldgate Lane
*Hotel Investment – Ideal lot size for a private investor/SIPP*
Modern purpose–built Travelodge hotel constructed in 2006
providing 41 bedrooms over 2 floors – 47 car parking spaces
Let to Travelodge Hotels Ltd until Dec. '31 with 5 yearly RPI
rent reviews
Price: Offers in the region of £1,834,000 Net Initial Yield: 6.25%
Agent: Philips Lockhart
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NORWICH – Ketts Court, 1–7 St Stephen's Road
*Prominently located freehold retail investment*
11,014 sq ft of retail accommodation at ground floor level
arranged in 2 separate units. Residential to above & rear.
Unit 1 let to Multiyork Furniture Ltd until March '21.
Unit 2 let to Subway Realty Ltd until March '21, with break
option in March '16.
Residential parts let to Elderhart Residential Limited until July
2131 at peppercorn rent.
Total income of £165,500 pa, rising to £167,500 pa in March '13
Price: Offers in excess of £1,850,000 Net Initial Yield: 8.5%
Agent: Cluttons LLP
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SALISBURY – 23 Catherine Street
*Well secured retail investment – Not VAT registered*
Two storey building providing a ground floor retail unit
Let to Barnardos until August ‘21
Price: £475,000 Net Initial Yield: 6.02%
Agent: Reid Rose Gregory
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WIGAN – 58/60 Market Place
*Prime retail location in pedestrianised town centre*
Pair of imposing retail units providing ground floor retail space
with ancillary office accommodation above – refurbished in ‘06
Let to Bank of Scotland Plc until February ‘17
Price: £2,200,000 Net Initial Yield: 5.8%
Agent: Hughes Ellard
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WATERLOOVILLE – 19/20 Stratfield Park
*Self contained unit – On–site parking – Long term lease*
2 freehold 1980's constructed self contained 2 storey business
units which have been combined to provide a double unit
Let to Eurotech Fire Systems until June '21 – rent £52,500 pa
Price: £499,000 Net Initial Yield: 9.92%
Agent: Holloway Iliffe & Mitchell
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