Lower Precinct Shopping Centre Lower Prec 221,600 SF 98% Leased Retail Building Coventry CV1 1DS £9,220,000 (£41.61/SF) 10% Net Initial Yield
INVESTMENT HIGHLIGHTS
- The city centre is experiencing substantial regeneration, including the City Centre South project.
- The property benefits from a gross income of £2,231,116 per annum
- The centre is fully let following recent lettings to Flip Out and Putt Putt Social.
EXECUTIVE SUMMARY
We are instructed to seek offers for the Long leasehold interest of £9.22 Million reflecting a net initial yield off 10% and a lo capital value of £42 per sq ft
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Storefront
Building Size
221,600 SF
Building Class
B
Year Built/Renovated
1958/2002
Price
£9,220,000
Price Per SF
£41.61
Net Initial Yield
10%
NOI
£922,000
Percent Leased
98%
Tenancy
Multiple
Number of Floors
4
Building FAR
1.27
Lot Size
4.00 AC
Parking
524 Spaces (2.36 Spaces per 1,000 SF Leased)
Frontage
70 ft on Lower Precinct
AMENITIES
- Food Court
- Property Manager on Site
- Security System
- Storage Space
- Air Conditioning
- Balcony
- On-Site Security Staff
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
The premises are arranged over Ground and First Floor. Available on a new effectively FRI lease for a term of years to be agreed.
The available space comprises ground floor retail accommodation of 1,637 sq ft. Available on a new effectively full repairing and insuring lease for a term of years to be agreed.
| Space | Size | Space Use | Position | Available |
| 64 | 2,650 SF | Retail | In-Line | Now |
| 75A | 1,637 SF | Retail | In-Line | Now |
64
| Size |
| 2,650 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
75A
| Size |
| 1,637 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
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NEARBY MAJOR RETAILERS
