3-5 Milbank Ter
Redcar TS10 1EE
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Large retail property
- Potential to increase revenue
- Asset management opportunity
EXECUTIVE SUMMARY
This 5860 SqFt property is currently occupied by both a downstairs and upstairs tenant.
Downstairs is occupied by an Indian Restaurant, they have been in occupation for over 13 years and have 2 years remaining on their lease. Currently paying £12,500 Per Annum.
Upstairs is occupied by a mma gym, currently on holdover paying £5,000 per annum, this tenant has occupied this space for over 5 years.
Total Rental Income - £17,500 Per Annum .
There is scope to increase the rental income for this property increasing the potential return.
Downstairs is occupied by an Indian Restaurant, they have been in occupation for over 13 years and have 2 years remaining on their lease. Currently paying £12,500 Per Annum.
Upstairs is occupied by a mma gym, currently on holdover paying £5,000 per annum, this tenant has occupied this space for over 5 years.
Total Rental Income - £17,500 Per Annum .
There is scope to increase the rental income for this property increasing the potential return.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Restaurant
Building Size
5,861 SF
Year Built
1900
Price
£325,000
Price Per SF
£55.45
Net Initial Yield
9.23%
NOI
£30,000
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.40
Lot Size
0.10 AC
Frontage
AMENITIES
- 24 Hour Access
- Storage Space
