1-5 Vine Parade 2,491 SF Retail Building Wivenhoe CO7 9HA £790,000 (£317.14/SF) 7.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent Business Location
- High Ceilings
- Solid Transport Links
EXECUTIVE SUMMARY
Freehold offers of £790,000 are sought. A sale at this level would reflect a nett initial yield of 7.5% allowing for a purchasers cost of 5.625%. Shop- Let to One Stop Stores Ltd(Co: 02462858) for a term of 15 years from 30th June 2023 at £29,000 pax subject to five yearly tenant breaks being 30th June 2028 & 2033. There are no rent reviews. Flat 1A -Let at £950pcm to 30-1-26 Flat 3A-Let at £925pcm to 18-3-26 Flat 5A-Let at £930pcm to 29-11-25( includes 3 garages). The current rental income is £62,660per annum exclusive of rates VAT and all other outgoings
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
2,491 SF
Building Class
B
Year Built
1970
Price
£790,000
Price Per SF
£317.14
Net Initial Yield
7.50%
NOI
£59,250
Tenancy
Single
Number of Floors
1
Building FAR
0.22
Lot Size
0.26 AC
Frontage
18 ft on Vine Drive
