2-3 Great Hampton St 2,417 SF Retail Building Birmingham B18 6EL £375,000 (£155.15/SF) 8.32% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Newly Refurbished Building
- Feature woodworking
- Double glass frontages
EXECUTIVE SUMMARY
The property is held long leasehold (999 years at peppercorn rental).
The property is let to Dark Blue Café Limited on a 15-year lease from 1st April 2023.
The rent is £31,194 per annum exclusive payable monthly and is reviewable 5 yearly to open market value with break options at years 5 and 10.
Offers in excess of £390,000 are sought, subject to contract reflecting NIY of 7.78% (when assuming purchasers’ costs of 2.81%) and a low underlying Capital Value of £198.00 ft2.
The property is let to Dark Blue Café Limited on a 15-year lease from 1st April 2023.
The rent is £31,194 per annum exclusive payable monthly and is reviewable 5 yearly to open market value with break options at years 5 and 10.
Offers in excess of £390,000 are sought, subject to contract reflecting NIY of 7.78% (when assuming purchasers’ costs of 2.81%) and a low underlying Capital Value of £198.00 ft2.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront Retail/Residential
Building Size
2,417 SF
Building Class
B
Year Built/Renovated
1990/2023
Price
£375,000
Price Per SF
£155.15
Net Initial Yield
8.32%
NOI
£31,194
Tenancy
Single
Number of Floors
2
Building FAR
0.55
Lot Size
0.10 AC
AMENITIES
- Security System
- Roller Shutters
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NEARBY MAJOR RETAILERS
