36 High St 1,799 SF Retail Building Sidmouth EX10 8ED £285,000 (£158.42/SF) 7.72% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Positioned within the heart of the town centre
- Outside there is a rear courtyard with bike store and w/c facilities
- Grade II listed mid terraced period property
EXECUTIVE SUMMARY
The property is let for a term of 6 years from 1st July 2022 to Gilbert Stephens Solicitors LLP on full repairing and insuring terms. There is a tenants option to break on 30th June 2025 subject to 6 months prior notice. The passing rent is £22,000 per annum and subject to review 1st July 2025. The freehold of the ground floor of number 38 High Street, known as Kent House and trading as Paragon Books has been sold off.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Office
Building Size
1,799 SF
Building Class
C
Year Built
1960
Price
£285,000
Price Per SF
£158.42
Net Initial Yield
7.72%
NOI
£22,000
Tenancy
Single
Number of Floors
3
Building FAR
0.37
Lot Size
0.11 AC
Parking
7 Spaces (3.89 Spaces per 1,000 SF Leased)
Frontage
26 ft on High Street
AMENITIES
- 24 Hour Access
- Courtyard
- EPC - C
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