Farndon Ferry | 5 North End
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Farndon Ferry 5 North End
3,077 SF Retail Building Newark NG24 3SX £895,000 (£291/SF) 7.91% Net Initial Yield
Investment Highlights
- Ground floor restaurant
- Riverside location
- 2 Bedroom bungalow for managers
Executive Summary
The property and business has been tenanted and run by the same team for many years. The freehold owners have decided to sell the investment due to relocation purposes. The passing rent is £70,799 per annum and the lease expires 10th October 2027. The tenant is free from any ties to breweries and are responsible for fully maintaining the buildings and paying all utilities and relevant insurances. The lease is within the landlord and tenant act, with the next rent review due October 2027.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
3,077 SF
Year Built
1980
Price
£895,000
Price Per SF
£291
Net Initial Yield
7.91%
NOI
£70,799
Tenancy
Single
Number of Floors
1
Building FAR
0.18
Land Acres
0.38 AC
Parking
5 Spaces (1.62 Spaces per 1,000 SF Leased)
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Farndon Ferry | 5 North End
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