16-18 High St 16,817 SF 100% Leased Retail Building Rugby CV21 3BG £1,000,000 (£59.46/SF) 8.20% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent town centre location
- Good transport links
- Window display frontage
EXECUTIVE SUMMARY
£1,000,000 which reflects a return of 8.2% (assuming purchaser's costs of 5.75%).
The ground floor is let to British Heart Foundation by virtue of a 5 year lease from 18 February 2022. There is a tenant break clause in February 2024. The current rent is £47,500 per annum. The lease provides the tenant with an effective full repairing and insuring liability.
The first floor is let to Stonegate Pub Company Limited by virtue of a 15 year lease from 17 December 2010. The current rent is £39,000 per annum. The lease provides the tenant with an effective full repairing and insuring liability.
The ground floor is let to British Heart Foundation by virtue of a 5 year lease from 18 February 2022. There is a tenant break clause in February 2024. The current rent is £47,500 per annum. The lease provides the tenant with an effective full repairing and insuring liability.
The first floor is let to Stonegate Pub Company Limited by virtue of a 15 year lease from 17 December 2010. The current rent is £39,000 per annum. The lease provides the tenant with an effective full repairing and insuring liability.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
16,817 SF
Building Class
B
Year Built
1964
Price
£1,000,000
Price Per SF
£59.46
Net Initial Yield
8.20%
NOI
£82,000
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
0.75
Lot Size
0.52 AC
AMENITIES
- Storage Space
1 of 1
NEARBY MAJOR RETAILERS
