Forest Parade | Forest Rd
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Forest Parade Forest Rd
1,398 SF 100% Leased Retail Building Lydney GL15 5LA £575,000 (£411/SF) 7.95% Net Initial Yield
Investment Highlights
- Prominent Location
- Established Retail Parade
- Central Location
Executive Summary
An end terrace/corner property comprising 3 retail units on the ground floor and 3 residential flats on the upper floor. (2 x 2 beds and 1 x 3 bed).
The property is constructed of a mixture of facing brickwork and reconstituted stone to the elevations under a pitched tiled roof.
Residential:
Flat 1 - 2000 years from Sept 1988
Flat 2 - 99 years from Sept 1998
Flat 3 - 99 years from Sept 1998
All flats are let on Assured Shorthold Tenancy Agreements.
Rental Income:
Flat 1 - £5700 per annum (paid monthly)
Flat 2 - £6120 per annum (paid monthly)
Flat 3 - £6012 per annum (paid quarterly)
All flats are let on Assured Shorthold Tenancy Agreements.
Commercial:
Unit 5 - 2,000 years from Sept 1998
Unit 5a - 2,000 years from Sept 1998
Unit 6 - 2,000 years from Sept 1998
Rental Income:
Unit 5 - £7800 per annum
Unit 5A - £8520 per annum
Unit 6 - £10,200 per annum
Lease Terms:
Unit 5 Magic Scissors 1 Feb 2021 - 31 Jan 2036
Unit 5A Safron Balti 1 Aug 2017 - 31 July 2032
Unit 6 Charcoal Grill 1 Aug 2017 - 31 July 2032
The Property generates a gross income of £45,700 per annum.
The property is constructed of a mixture of facing brickwork and reconstituted stone to the elevations under a pitched tiled roof.
Residential:
Flat 1 - 2000 years from Sept 1988
Flat 2 - 99 years from Sept 1998
Flat 3 - 99 years from Sept 1998
All flats are let on Assured Shorthold Tenancy Agreements.
Rental Income:
Flat 1 - £5700 per annum (paid monthly)
Flat 2 - £6120 per annum (paid monthly)
Flat 3 - £6012 per annum (paid quarterly)
All flats are let on Assured Shorthold Tenancy Agreements.
Commercial:
Unit 5 - 2,000 years from Sept 1998
Unit 5a - 2,000 years from Sept 1998
Unit 6 - 2,000 years from Sept 1998
Rental Income:
Unit 5 - £7800 per annum
Unit 5A - £8520 per annum
Unit 6 - £10,200 per annum
Lease Terms:
Unit 5 Magic Scissors 1 Feb 2021 - 31 Jan 2036
Unit 5A Safron Balti 1 Aug 2017 - 31 July 2032
Unit 6 Charcoal Grill 1 Aug 2017 - 31 July 2032
The Property generates a gross income of £45,700 per annum.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Building Size
1,398 SF
Building Class
B
Year Built
1960
Price
£575,000
Price Per SF
£411
Net Initial Yield
7.95%
NOI
£45,700
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.06
Land Acres
0.57 AC
Amenities
- Corner Lot
-
Kurt Wyman -
Sam Williams -
Kurt Wyman Surveyors
1 of 8
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Forest Parade | Forest Rd
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